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Slide #59. CVTech Group Inc. — U.S. company
CVTech Group Inc. (CVT.CA)
CVTech Group Inc. ("CVTech" or "the Corporation") (TSX: CVT) today announced the signature of a letter of intent to acquire all the issued and outstanding shares of a U.S. company ("the Company") engaged in providing electrical services mainly to the utility industry. Given the nature of the prospective transaction, the Corporation intends to disclose the name of the Company only at the closing of the acquisition.
NAPEC is a holding company. Through its subsidiaries, Co. is engaged in the construction and maintenance of electrical power houses and substations as well as transmission and distribution lines for the utility and heavy industrial markets; the design, manufacture and distribution of continuously variable power transmission ("CVT") systems intended for manufacturers of mini-compact cars and recreational and utility vehicles; and the rebuilding of industrial crankshafts, cylinders and engines, the plating of cylinders and the sale of engine-related parts. Co. divides its operations into two business segments: Energy segment and CVT Systems and related products segment.
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