RICHMOND, BC, June 2 /PRNewswire-FirstCall/ -- Tree Island Industries announced today that it will consolidate its four US operating companies, Advanced Wire Technology (AWT), Halsteel, Industrial Wire Products (IWP) and K- Lath, into a single organization to be called Tree Island Wire USA. The company simultaneously announced the appointment of Rebecca Kalis as President and Chief Operating Officer of Tree Island Wire USA. Ms. Kalis previously held senior management responsibility for the K-Lath and Halsteel divisions.
"Our US operations have grown significantly in recent years through acquisitions and internal growth," said Tree Island CEO, Ted Leja. "The creation of Tree Island Wire USA combines the resources and people strengths of our four US operating companies into a single organization that will benefit from focused leadership, greater management depth, improved operating efficiencies and enhanced growth opportunities."
"We are also delighted to announce that Rebecca Kalis will be taking the helm of our new US division. Rebecca brings significant industry experience and a superb track record to this role. Under her leadership, both K-Lath and Halsteel have posted strong growth and dramatic performance improvements," added Leja
Tree Island's US operations are currently comprised of four manufacturing divisions located within a ten-mile radius in the Southern California communities of Rancho Cucamonga, Ontario, Pomona and Fontana. Together, these operations generate approximately 50% of Tree Island Industries' total annual revenues with a product mix that includes nails and other fasteners; stucco reinforcing products; and various wire products including stainless steel, carbon and bright wire. These products will continue to be marketed under the well-known AWT, Halsteel, IWP and K-Lath brand names.
The consolidation is expected to benefit customers by providing access to a larger product mix, and enhanced engineering and technical support services. Tree Island Wire USA will also take advantage of significant operating synergies, including consolidated marketing, purchasing and administrative functions.
Tree Island Industries is one of North America's largest producers of wire and fabricated wire products. Its principal products are nails, bright wire, stainless steel wire, galvanized wire, stucco reinforcing products, fence products and other fabricated wire products. Marketed under the Tree Island, K-Lath, Advanced Wire Technology, Halsteel Inc., and Industrial Wire Products brand names, these products serve a diverse range of customers and industries, primarily in the Western United States and Western Canada. Tree Island Industries is headquartered in Richmond, British Columbia, Canada.
Forward Looking Statements
Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Tree Island Industries, or its majority owner, Tree Island Wire Income Fund, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements use such words as "may", "will", "expect", "believe", "plan" and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release.
For further information: Ted Leja, President and Chief Executive Officer Tree Island Industries Ltd., (604) 523-4507 e-mail: tleja@treeisland.com Website: http://www.treeisland.com/
Tree Island Wire Income Fund
"Our US operations have grown significantly in recent years through acquisitions and internal growth," said Tree Island CEO, Ted Leja. "The creation of Tree Island Wire USA combines the resources and people strengths of our four US operating companies into a single organization that will benefit from focused leadership, greater management depth, improved operating efficiencies and enhanced growth opportunities."
"We are also delighted to announce that Rebecca Kalis will be taking the helm of our new US division. Rebecca brings significant industry experience and a superb track record to this role. Under her leadership, both K-Lath and Halsteel have posted strong growth and dramatic performance improvements," added Leja
Tree Island's US operations are currently comprised of four manufacturing divisions located within a ten-mile radius in the Southern California communities of Rancho Cucamonga, Ontario, Pomona and Fontana. Together, these operations generate approximately 50% of Tree Island Industries' total annual revenues with a product mix that includes nails and other fasteners; stucco reinforcing products; and various wire products including stainless steel, carbon and bright wire. These products will continue to be marketed under the well-known AWT, Halsteel, IWP and K-Lath brand names.
The consolidation is expected to benefit customers by providing access to a larger product mix, and enhanced engineering and technical support services. Tree Island Wire USA will also take advantage of significant operating synergies, including consolidated marketing, purchasing and administrative functions.
Tree Island Industries is one of North America's largest producers of wire and fabricated wire products. Its principal products are nails, bright wire, stainless steel wire, galvanized wire, stucco reinforcing products, fence products and other fabricated wire products. Marketed under the Tree Island, K-Lath, Advanced Wire Technology, Halsteel Inc., and Industrial Wire Products brand names, these products serve a diverse range of customers and industries, primarily in the Western United States and Western Canada. Tree Island Industries is headquartered in Richmond, British Columbia, Canada.
Forward Looking Statements
Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Tree Island Industries, or its majority owner, Tree Island Wire Income Fund, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements use such words as "may", "will", "expect", "believe", "plan" and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release.
For further information: Ted Leja, President and Chief Executive Officer Tree Island Industries Ltd., (604) 523-4507 e-mail: tleja@treeisland.com Website: http://www.treeisland.com/
Tree Island Wire Income Fund
