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Canam Group Purchases 15% Stake in US-Based Structural Steel Fabricator

Dec 24 2009

Construction products fabricator Canam Group Inc. (TSX: CAM) announced today that it has completed the acquisition of a 15% interest in structural steel fabricator FabSouth and its subsidiaries FabSouth, LLC and FS Real Estate Holdings, LLC for US$11.25 million. The transaction price is subject to an adjustment based on the working capital as at December 31, 2009.

This transaction was concluded with a company controlled by Canam Group chairman of the board and CEO Marcel Dutil. The independent directors of Canam Group's board of directors reviewed and approved the terms and conditions of the transaction and concluded that Canam Group had obtained fair value.

Source: http://www.canamgroup.ws/www/v4/cg.nsf

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