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Atlas Engineered Products partners with global corporation to collaborate on design and engineering technology

MiTek Canada develops efficient plant and process designs and manufactures, supplies and distributes equipment and automated solutions for the truss and engineered wood products industries

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The partnership with MiTek allows Atlas access to MiTek’s design and engineering technology

Atlas Engineered Products (CVE:AEP) (OTCMKTS:APEUF) has formed a new partnership with a major global supplier to the building industry, the company announced Wednesday.

MiTek Canada Inc develops efficient plant and process designs and manufactures, supplies and distributes equipment and automated solutions for the truss and engineered wood products industries.

The partnership with MiTek allows Atlas access to MiTek’s design and engineering technology. Designers will collaborate and execute using a shared technology platform, Atlas said in a statement.

READ: Atlas Engineered Products' new lumber supply deal will reduce costs and lift cashflow

Atlas has also exclusively purchased MiTek connector plates, building products and services, according to CEO Dirk Maritz, which is expected to “unlock significant value” via gains in operational efficiencies and economies of scale.

"The partnership enables us to minimize material and labour wastage, work hand-in-hand with MiTek's experts to optimize our plants, automate where applicable, and is backed by MiTek's industry-leading technical and manufacturing support teams," Maritz said in a statement.

"It is our goal to support our partners at every stage of the process, through our design and engineering expertise, our cutting-edge technologies, our operational support as well as via our superior connector products,” said Dave Cattapan, president of MiTek Canada.

“This partnership agreement with AEP will help them increase speed and efficiency, achieving better bottom-line results for their business.”

Atlas shares were flat on Tuesday morning at C$0.39 in Toronto and US$0.26 on OTC markets.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Atlas Engineered Products Ltd.

Price: 0.375 CAD

TSX-V:AEP
Market: TSX-V
Market Cap: $17.33 m
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