Launches New Corporate Identity
LANGLEY,
BC, Dec. 5, 2022 /CNW/ - Hardwoods
Distribution Inc. (the "Company") (TSX: HDI) today announced
it has completed its re-branding of the Company from Hardwoods
Distribution Inc. to ADENTRA Inc. ("ADENTRA"). The name
change was formally approved at a special meeting of shareholders
held on December 2, 2022.
ADENTRA has launched its new website at www.ADENTRAgroup.com as
well as its new logo and social media accounts. The new
website offers users a contemporary look along with easy navigation
to valuable information about ADENTRA's business and service
offerings tailored toward our supply chain partners, prospective
employees and investors.
"We are very excited to launch our new brand and corporate
identity," expressed Rob Brown,
President and Chief Executive Officer of ADENTRA. "We have
significantly transformed our business over the past several years
as we organically expanded our product offering and added quality
businesses through our acquisition strategy. Our company
today delivers a one-stop customer buying experience with access to
a diversified mix of specialty products used in the finishing
stages of construction projects. We have created a North
American wide distribution capability and broadened our customer
channel participation to include industrial fabricators,
professional building products dealers, and home centers."
"We believe the ADENTRA name is an excellent reflection of the
breadth and strengths of our transformed business, and our vision
to be the preferred choice for our valued customers, the best
partner for our vendors, and a great place to work for our
dedicated employees."
Deriving from the Spanish word 'dentro' meaning 'within',
ADENTRA represents the Company's modern identity as a world class
distributor of architectural products used to create beautiful
spaces where we live, work and play. The logo's icon consists of
shapes and colors representing natural earth elements, while the
configuration of its shapes reflects on the diverse areas of the
business that were forged together, over time, into one cohesive
entity.
While the corporate name is being rebranded, the Company's work
with customers and vendors will continue unchanged through its
flagship brands Novo Building Products, Mid-Am Building Supply,
Rugby Architectural Building Products, Frank Paxton Lumber Company,
and Hardwoods Specialty Products. Customer relationships will
continue to be managed directly through each of these brands and
the corresponding regional customer service centers they operate in
their local markets.
Concurrent with the launch of ADENTRA, the Company is hosting an
analyst day and tour of operations on December 6th. During the event management will
review the Company's strategy, including a goal to reach
a run-rate sales pace of US$3.5
billion per year by the end of 2026. Upon completion
of the analyst day, supporting presentation material will be
available for review on the investor section of the Company's
website at www.ADENTRAgroup.com.
Shares to Commence Trading Under New Name and Ticker
Symbol
Subject to satisfaction of The Toronto Stock Exchange's filing
requirements, the Company expects that its common shares will
commence trading under the new name at the market open on
Thursday, December 8, 2022, at which
time the Company's stock trading symbol will also be changed to
"ADEN". Securities filings for the Company will be reported on
SEDAR under "ADENTRA Inc. (formerly Hardwoods Distribution
Inc.)".
The Company's new CUSIP number is 00686A108 and its new ISIN
number is CA00686A1084.
For additional information regarding the name change, please
refer to the Company's Management Information Circular dated
November 10, 2022.
About ADENTRA
ADENTRA is one of North
America's largest distributors of architectural products to
fabricators, home centers and professional dealers servicing the
new residential, repair and remodel, and commercial construction
end markets. The Company currently operates a network in
North America of 86 facilities in
the United States and Canada. ADENTRA's common shares are listed on
the Toronto Stock Exchange under the symbol "ADEN".
Forward-Looking Statements
Certain statements in this news release contain forward-looking
information within the meaning of applicable securities laws in
Canada ("forward-looking
information"). The words "anticipates", "believes",
"budgets", "could", "estimates", "expects", "forecasts", "intends",
"may", "might", "plans", "projects", "schedule", "should", "will",
"would" and similar expressions are often intended to identify
forward-looking information, although not all forward-looking
information contains these identifying words.
The forward-looking information in this news release includes,
but is not limited to: the Company's goal to reach a run-rate sales
pace of $3.5 billion per year by the
end of 2026.
The forecasts and projections that make up the forward-looking
information are based on assumptions which include, but are not
limited to: there are no material exchange rate fluctuations
between the Canadian and US dollar that affect the Company's
performance; the general state of the economy does not worsen; the
Company does not lose any key personnel; there are no decreases in
the supply of, demand for, or market values of hardwood lumber or
sheet goods that harm the Company's business; the Company does not
incur material losses related to credit provided to its customers;
the Company's products are not subjected to negative trade
outcomes; the Company is able to sustain its level of sales and
earnings margins; the Company is able to grow its business long
term and to manage its growth; the Company is able to integrate
acquired businesses; there is no new competition in the Company's
markets that leads to reduced revenues and profitability; the
Company can comply with existing regulations and will not become
subject to more stringent regulations; no material product
liability claims; importation of components or other innovative
products does not increase and replace products manufactured in
North America; the Company's
management information systems upon which the Company is dependent
are not impaired; the Company is not adversely impacted by
disruptive technologies; and, the Company's insurance is sufficient
to cover losses that may occur as a result of its operations.
The forward-looking information is subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from historical results or results anticipated by
the forward-looking information. The factors which could
cause results to differ from current expectations include, but are
not limited to: exchange rate fluctuations between the Canadian and
US dollar could affect the Company's performance; the Company's
results are dependent upon the general state of the economy; the
Company depends on key personnel, the loss of which could harm the
Company's business; decreases in the supply of, demand for, or
market values of hardwood lumber or sheet goods could harm the
Company's business; the Company may incur losses related to credit
provided to the Company's customers; the Company's products may be
subject to negative trade outcomes; the Company may not be able to
sustain the Company's level of sales or earnings margins; the
Company may be unable to grow the Company's business long term and
to manage any growth; the Company is unable to integrate acquired
businesses; competition in the Company's markets may lead to
reduced revenues and profitability; the Company may fail to comply
with existing regulations or become subject to more stringent
regulations; product liability claims could affect the Company's
revenues, profitability and reputation; importation of components
or other innovative products may increase and replace products
manufactured in North America; the
Company is dependent upon its management information systems;
disruptive technologies could lead to reduced revenues or a change
in the Company's business model; the Company's insurance may be
insufficient to cover losses that may occur as a result of its
operations; the Company's credit facilities affect its liquidity,
contain restrictions on its ability to borrow funds, and impose
restrictions on distributions that can be made by certain of its
operating subsidiaries; and, other risks described in the Company's
Annual Information Form and Management's Discussion and
Analysis.
This news release contain information that may constitute a
"financial outlook" within the meaning of applicable securities
laws. The financial outlook has been approved by management of the
Company as of the date of this news release. The financial
outlook is provided for the purpose of providing readers with an
understanding of the Company's anticipated financial
performance. Readers are cautioned that the information
contained in the financial outlook may not be appropriate for other
purposes
All forward-looking information in this news release is
qualified in its entirety by this cautionary statement and, except
as may be required by law, the Company undertakes no obligation to
revise or update any forward-looking information as a result of new
information, future events or otherwise after the date hereof.
SOURCE ADENTRA Inc.
