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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 American is a custom compounding company. Co. develops, manufactures, and sells proprietary rubber-based products to the transportation, defence and industrial markets. Co. operates in two business segments: Rubber Compounding and AirBoss Engineered Products. The Rubber Compounding segment is engaged in custom rubber compounding, supplying mixed rubber for use in transportation and industrial rubber parts manufacturing including mining, automotive, conveyor belting, and other products. The AirBoss Engineered Products segment is engaged in the development and sale of chemical, biological, radiological and nuclear protective rubber wear for military and first response applications.
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