Triangle Industries Ltd.
TSX VENTURE : TIA

Triangle Industries Ltd.

March 03, 2008 16:35 ET

Triangle Industries Ltd.: Termination of Land Lease

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2008) - Triangle Industries Ltd. (the "Company") (TSX VENTURE:TIA) has received notice from the landlord of its lumber transloading yard in Surrey, BC operated by its wholly-owned subsidiary, Bridges Reload Inc., that Bridges will not be able to renew its lease and must vacate the premises in 60 days.

Bridges normally generates approximately 25% of consolidate revenues and 20% of operating profit. The bulk of the subsidiary's present business comes from loading ocean containers with lumber for export. As the container business does not depend on rail access, management is evaluating the prospects for continuing this business at another truck based location.

ON BEHALF OF THE BOARD OF TRIANGLE INDUSTRIES LTD.

Geoff Edwards, President and Chief Executive Officer

Forward-Looking Disclaimer - This press release contains forward-looking statements and information, which reflect the current view of Triangle Industries Ltd. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and Triangle's actual results of operations could differ materially from historical results or current expectations. Triangle assumes no obligation to publicly update or revise its forward looking statements even if experience or future changes make it clear that any projected results expressed or implied therein do not materialize. Refer to Triangle's annual report, management information circular, annual information form and other filings with Canadian securities regulators, which can be found at www.sedar.com, for further information on risks and uncertainties that could cause actual results to differ materially from forward-looking statements contained in this report.

Contact Information

  • Triangle Industries Ltd.
    Geoff Edwards
    President and Chief Executive Officer
    (604) 580-1130
    (604) 580-2272 (FAX)