PFB Corporation Announces the Sale and Leaseback of Its
PFB Corporation Announces the Sale and Leaseback of Its Canadian Real Estate
CALGARY, ALBERTA -- (Marketwire) -- 12/21/12 -- PFB Corporation (TSX:PFB) reports it has executed a Purchase and Sale Agreement with a Canadian real estate investment trust whereby it has agreed to sell all its Canadian real estate for the sum of $30,000,000 and agreed to enter into property leases for a term of twenty years. Proceeds to be received by PFB from the sale will be constituted as $15,000,000 in cash and $15,000,000 in trust units. The transaction is subject to the usual due diligence conditions by the purchaser for transactions of this nature. It is expected to close in February, 2013.
PFB Corporation is a vertically integrated manufacturer of insulating building products that are marketed across North America under five brands. Plasti-Fab, EPS Product Solutions(R) are products, manufactured using expanded polystyrene (EPS) as base raw materials, that are delivered to customers in five segmented markets. Advantage ICF Systems(R) are insulating concrete forming systems that are employed to build insulated foundations and walls from concrete in both residential and commercial markets. Insulspan(R) Structural Insulating Panels Systems (SIPS) are used to create structural walls and to replace trusses on roof systems to form an energy-efficient structural envelope. PFB Custom Homes Group includes Riverbend Timber Framing(R), PrecisionCraft Log &Timber Homes(R), Point Zero Homes (R)and M.T.N Architects(R). Each brand provides clients with our exclusive Total Home Solution(R) for building custom homes in the US, Canada and internationally that can include Insulspan SIPS for the walls and roof, and Advantage ICFS for the building's foundations.
PFB Corporation is listed for trading on the Toronto Stock Exchange, symbol PFB. Contacts: PFB Corporation Stephen P. Hardy Vice President & CFO (403) 569-4303 (403) 569 4075 (FAX)
PFB Corporation #100, 2886 Sunridge Way NE Calgary, Alberta T1Y 7H9