Mr. Mark Foote reports

WAJAX ANNOUNCES CLOSING OF TUNDRA PROCESS SOLUTIONS ACQUISITION

Wajax Corp. has closed its previously announced acquisition of all of the issued and outstanding shares of Tundra Process Solutions Inc., based in Calgary, Alta., for total consideration of $99.1-million.

Founded in 1999, Tundra provides maintenance and technical services to customers in the Western Canadian mid-stream oil and gas, oil sands, petrochemical, mining, forestry, and municipal sectors. Tundra also distributes a diverse range of industrial process equipment, representing industry-leading manufacturers of valves and actuators, instrumentation and controls, motors and drives, control buildings, boilers, and water treatment solutions. Employing approximately 150 people, Tundra operates four facilities in Alberta: Calgary, Edmonton (two locations) and Grande Prairie. Tundra also maintains a local sales presence in Fort McMurray and Red Deer, Alta.; Vancouver and Fort St. John, B.C.; and Southern Saskatchewan. As part of the transaction, all key members of Tundra's senior management team will continue in their present roles.

Wajax Corp.

Founded in 1858, Wajax is one of Canada's longest-standing and most diversified industrial products and services providers. The corporation operates an integrated distribution system providing sales, parts and services to a broad range of customers in diverse sectors of the Canadian economy, including construction, forestry, mining, industrial and commercial, oil sands, transportation, metal processing, government and utilities, and oil and gas.