00:18:43 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Manac Inc
Symbol MA
Shares Issued 4,761,905
Close 2015-03-31 C$ 9.08
Market Cap C$ 43,238,097
Recent Sedar Documents

FP/CP say Quebec wants Manac to stay in province

2015-04-01 09:08 ET - In the News

The Financial Post reports in its Wednesday, April 1, edition that Quebec's economy minister Jacques Daoust wants the province's investment arm to assist any eventual partner interested in Manac ($9.08) so the company remains based in the province. A Canadian Press dispatch to the Post reports that Mr. Daoust says Manac's openness about its intentions will allow for Investissement Quebec to get involved in the process. On Monday, Manac said its review of strategic options includes a sale of the company. Manac makes specialty trailers such as grain hoppers and logging trailers sold across North America. Manac said it would also consider a merger or another business transaction. The move comes just 18 months after it completed an initial public offering that netted the company about $40-million, about half of which was used to repay debt. Manac said its operations will be unaffected by the strategic review and that there is no assurance any deal will result. In 2004, Manac, then known as Canam Manac, sold its semi-trailer business to the founding Dutil family. After going public, its largest owners are the Quebec Federation of Labour's Solidarity Fund, the Caisse de depot et placement du Quebec and Fiera Capital.

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