Mr. Hadi Abassi reports

ATLAS ENGINEERED PRODUCTS ANNOUNCES ACQUISITION OF 42 ACRES OF LAND IN COLBORNE, ONTARIO TO SUPPORT AUTOMATION OF TRUSSES AND WALL PANELS

Atlas Engineered Products Ltd. has acquired 42 acres of land at 281 Purdy Rd., Colborne, Ont., which has been secured to provide a new greenfield location to support truss and panelization automation. The total purchase price for the land was $2.8-million, including all fees, and the transaction closed on Dec. 12, 2024. This land package sits just south of the 401 Highway and enables Atlas Engineered Products to serve the Ontario, western Quebec and cross-border United States markets. Automated facilities are operating in the U.S. and European markets, with proven capability of increasing capacity by 100 per cent to 200 per cent, depending on numbers of shifts, and at a greater-than-50-per-cent reduction in operating costs.

Hadi Abassi, president and chief executive officer of Atlas Engineered Products, commented: "We are preparing for a future in automation, and this is a strategic acquisition for the company. While Clinton, Ont., will be our first hub to serve surrounding markets for trusses, Colborne will be critical in providing both trusses and wall panels to the market. Both truss and panelization automation are proven economic models in the U.S. and across Europe. We are engaged with vendors in Europe that have been executing on automation in our industry for several years. The competitive landscape in Canada is about to change, and we are leading the charge in reducing exposure to labour unavailablity, improving efficieinces and increasing output. In the meantime, our quote book for 2025 continues to grow, setting up for a healthy 2025. These are the early signs of a recovery following consecutive 50-basis-point rate cuts in Canada, and pave the road to closing the structural supply gap in the country."

About Atlas Engineered Products Ltd.

Atlas Engineered Products is a growth company that is acquiring and operating profitable, well-established operations in Canada's truss and engineered products industry. The company has a well-defined and disciplined acquisition and operating growth strategy, enabling it to scale aggressively and apply new technologies, giving it a unique opportunity to consolidate a fragmented industry of independent operators.

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