|By Marketwired .||
|May 7, 2014 11:53 AM EDT||
OTTAWA, ONTARIO -- (Marketwired) -- 05/07/14 -- (All amounts in this release are in Canadian Dollars)
Calian Technologies Ltd. (TSX: CTY) is pleased to announce today that it has acquired Amtek Engineering Services Ltd. of Ottawa, Ontario. Amtek has been in business for 30 years providing engineering services to a variety of government and defence customers and has been a valuable subcontractor to Calian on many contracts with DND.
"With revenues of approximately $15 million, we expect this acquisition to be EBITDA accretive from day one" stated Jacqueline Gauthier, Chief Financial Officer. "Amtek results will be consolidated and reported as part of the Company's Business and Technology Services (BTS) division".
"We are excited about the acquisition of a quality organization such as Amtek. We have worked closely with Amtek on a number of occasions and I believe they will be an excellent cultural fit with our division. We welcome the principals, employees and contractors to the Calian family and look forward to working together with current customers and on future pursuits" stated Kevin Ford, President of Calian's BTS division.
"A long standing reputation for quality delivery, coupled with an in-depth knowledge of our industry were key determinants when looking for a buyer", stated Lester Sellars, President of Amtek. "Calian fit the bill perfectly and we are thrilled to join forces with such a reputable firm. Our customers will realize the combined benefit of dealing with the same Amtek team that has operated the company for many years, backed by the depth and scale associated with Calian. Likewise, our employees and subcontractors will be able to access a wider range of opportunites within this larger organization."
Calian employs over 2,400 people with offices and projects that span Canada, U.S. and international markets. The company's capabilities include the provision of business and technology services to industry and government in the health, training, IT services and operations and maintenance domains as well as the design, manufacturing and maintenance of complex systems to the communications and defence sectors. Our goal is to be the best company to work for, buy from and invest in. The Business and Technology Services (BTS) Division is headquartered in Ottawa. This division delivers outsourcing services for a variety of technical and professional functions and provides health services to numerous domestic customers. Our strength lies in understanding clients' needs, recruiting highly qualified personnel who understand and meet those needs, and then effectively managing those personnel within our customers' framework. Calian's Systems Engineering Division (SED) plans, designs and implements complex communication systems for many of the world's space agencies and leading satellite manufacturers and operators. SED also provides contract manufacturing services for both private sector and military customers in North America.
AMTEK Engineering Services Ltd. is a privately owned, fully Canadian engineering services corporation with full-spectrum systems engineering and technical services supporting the Department of National Defence (DND), other government departments, and industry since 1984. AMTEK professional engineers and technologists apply expertise in disciplines essential for system development, operation, and maintenance. AMTEK's capabilities provide full life-cycle support for, soldier systems, major defence projects, electrical and electronic systems, computer systems, naval architecture, and aerospace systems. Associated support infrastructure is also provided in Integrated Logistics Support, drafting, technical writing and preparation of documentation to stringent standards and specifications as required by Government. AMTEK's uncompromising commitment to technical excellence, quality assurance (ISO9000-2008 registered with CGSB), and cost effectiveness, has resulted in successful programs and lasting Client relations.
Certain information included in press releases on this site is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; the dependence on new product development; the impact of rapid technological and market change; the ability of Calian to integrate the operations and technologies of acquired businesses in an effective manner; general industry and market conditions and growth rates; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, see the reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.
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