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Atlas Engineered Products annual meeting reduces number of directors at five

The company will concentrate on integrating the businesses it has acquired in the past year

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Atlas Engineered Products is a leading supplier of trusses and engineered wood products.

Atlas Engineered Products Ltd (CSE:AEP) said the annual general meeting of shareholders fixed the number of directors for the company at five.

The company re-elected all the incumbent directors: Dirk Maritz, Mohammad Hadi Abassi, Don Hubbard, Greg Smith and Kevin Smith.

In one year, the company said it has acquired Atlas Truss & Coastal Windows in British Columbia; Clinton Truss, Satellite Truss & Tandelle-Pacer in Ontario, and is targeting the closing of the deal for South Central Building Systems Company in early 2019, said CEO Dirk Maritz. 

BIG PICTURE: Atlas Engineered Products building significant foundations as its acquisition strategy rolls on

"Our efforts are focused on integrating these businesses to the Atlas stable and realizing cost synergies via operational excellence, in line with our acquisition strategy," he added.

Maritz said that they have "decided to reduce the members on the board to five directors" so the company can "focus on selective contracts that are value added, thus accelerating productivity through margin accretive engagements."

Shareholders also voted in favor of appointing PricewaterhouseCoopers as Atlas' auditors for the next year, and re-approved Atlas' rolling 10% stock option plan.

Atlas Engineered Products is a leading supplier of trusses and engineered wood products.

The company is based in Nanaimo, British Columbia.

Contact Rene Pastor by [email protected]

Quick facts: Atlas Engineered Products Ltd.

Price: 0.255 CAD

TSX-V:AEP
Market: TSX-V
Market Cap: $14.72 m
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