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Slide #39. AirBoss of America Corp. — Flexible Products Co.
AirBoss of America Corp. (TSE:BOS.CA)
Flexible Products Co.
AirBoss of America Corp. (TSX:BOS) (the "Company" or "AirBoss"), announced today that it has entered into an agreement to acquire all the shares of Flexible Products Co. ("Flexible Products"), a privately-owned U.S. company that is a leading supplier of innovative and cost-effective anti-vibration solutions to the North American automotive market. The acquisition is expected to be immediately accretive to the Company's earnings and cash flows. Flexible Products is expected to generate sales of between US$100 and $110 million and Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA") of between US$8 and $9 million for the year ended December 31, 2013. We welcome the management team and employees of Flexible Products to the AirBoss group of companies and look forward to their continuing commitment to customer service.
AirBoss of America is engaged in complementary businesses. Co. operates in three business segments: Rubber Solutions, Engineered Products and AirBoss Defense Group. Co.'s Rubber Solutions segment is engaged in the development and manufacturing of custom rubber compounds and molded products. Co.'s Engineered Products segment primarily designs, engineers and manufactures rubber, synthetic rubber and rubber-to-metal bonded products. The AirBoss Defense Group segment is engaged in the development, manufacturing and sales of Chemical, Biological, Radiological and Nuclear protective equipment alongside the clearance vehicles, countermine capability and survivability products.
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