Atlas Engineered Products Reports 2020 Year End Financial and Operating Results and Record Fourth Quarter Revenues
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NANAIMO, BC, April 15, 2021 /CNW/ - Atlas Engineered Products ( AEP or the Company ) (TSX-V: AEP) (OTC Markets: APEUF) is pleased to announce its financial and operating results for the year ended December 31, 2020. All amounts are presented in Canadian dollars. 2020 presented many challenges for AEP brought on by the COVID-19 pandemic. Rapidly increasing material prices, shipping logistic difficulties, and social distancing were only some of the challenges faced in 2020 and ongoing to 2021. Throughout this, the health of our employees and customers was always our main focus, said Hadi Abassi, CEO & President, Founder. Despite the obstacles of 2020, the entire Company has worked hard to improve profitability and to position itself to take advantage of the strong demand for our products through organic
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NANAIMO, B.C. – Atlas Engineered Products Ltd. has agreed to purchase ZyTech Building Systems’ manufacturing assets from its former Langley location for roughly $1 million.
The equipment purchase is expected to close on Jan. 31 at a price of $958,160, which AEP said is below replacement or market value. AEP paid ZyTech a deposit of $100,000 and may take possession of the equipment prior to closing, the company said. The equipment will be installed at its Novum and Atlas Building Systems locations starting in Q1 2021 and is expected to be ready for the 2021 peak building season.
AEP said it also will be completing several supply contracts for a number of ZyTech’s clients.