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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.