TORONTO, Sept. 3, 2019 /CNW/ - TerraVest Industries Inc.
(TSX: TVK) ("TerraVest" or the "Company") announced today
that it has acquired the assets of Iowa Steel Fabrication LLC,
doing business as Countryside Tank Company and Majona Steel
Corporation (collectively, "Countryside Tank"). Countryside
Tank is a privately-owned Iowa
based company primarily focused on manufacturing transportation
equipment for the propane and anhydrous ammonia markets as well as
structural steel projects.
Dustin Haw, Chief Executive
Officer of TerraVest, welcomes the employees of Countryside Tank
and looks forward to their continuing commitment to the business
and its customers. "Countryside Tank is a leading manufacturer of
propane and anhydrous ammonia trailers for the U.S. market, the
addition of the company enhances TerraVest's propane and NH3
trailer offering in the U.S. as well as the scope of services
offered in the Midwest. Countryside Tank will play a part in
TerraVest's overall effort to maximize product and service
capabilities to customers across North
America," said Mr. Haw.
TerraVest will acquire Countryside Tank using existing cash and
credit facilities.
Caution Regarding Forward-Looking
Statements
This news release contains forward-looking
statements. All statements other than statements of
historical fact contained in this news release are forward-looking
statements, including, without limitation, statements regarding our
strategic direction and evaluation of the business segments and
TerraVest as a whole, and other plans and objectives of or
involving TerraVest. Readers can identify many of these statements
by looking for words such as "expects" and "will" and similar words
or the negative thereof. Although management believes that the
expectations represented in such forward-looking statements are
reasonable, there can be no assurance that such expectations will
prove to be correct.
By their nature, forward-looking statements require us to
make assumptions and, accordingly, forward looking statements are
subject to inherent risks and uncertainties. There is significant
risk that the forward-looking statements will not prove to be
accurate. We caution readers of this news release not to place
undue reliance on our forward-looking statements because a number
of factors may cause actual future circumstances, results,
conditions, actions or events to differ materially from the plans,
expectations, estimates or intentions expressed in the
forward-looking statements and the assumptions underlying the
forward-looking statements.
Assumptions and analysis about the performance of TerraVest
as a whole and its business segments, the markets in which the
business segments compete and the prospects and values of the
business segments are considered in setting the business plan for
TerraVest, plans and/or ability to pay dividends, outlook for
operations, financial position, results and cash flow, other plans
and objectives and in making related forward-looking statements.
Such assumptions include, without limitation, demand for
products and services of the business segments in respect of the
Canadian and other markets in which the businesses are active will
be stable, and that input costs to business segments do not vary
significantly from levels experienced
historically. Should any of these factors or
assumptions vary, actual results may differ materially from the
forward-looking statements.
SOURCE TerraVest Industries Inc.