AGP now trading on the TSE
Arctic Group To Commence Trading On The TSE
December 30, 1999
WINNIPEG, MANITOBA--
Mr. Robert Nagy reports:
The Arctic Group is pleased to announce that its common shares
will commence trading on the Toronto Stock Exchange at the opening
on December 31, 1999 under the stock symbol "AGP". The Arctic
Group Inc. has been trading on the Alberta Stock Exchange (now the
Canadian Venture Exchange) since April 9, 1997.
The Arctic Group Inc. is the largest producer of packaged ice in
Canada and one of the largest in North America. It operates out
of 47 locations, produces 2300 tons daily and distributes to over
35,000 customers. The Arctic Group's principal markets include
Canada, North Dakota, South Dakota, Minnesota, Wisconsin, Iowa,
Nebraska, Kansas and western Texas.
The progression to a listing on Canada's senior exchange
represents a natural evolution in Arctic's growth. The Company
recently released its results for the nine months ended September
30, 1999. Revenue for that period was $64.9 million compared to
$38.5 million for the first nine months of 1998. EBITDA more than
doubled for that period to $19.4 million compared to $9.2 million
in the prior year. EBITDA, as a percentage of sales, increased to
30% from 24% year over year, representing an improvement in margin
of 25 %.
The Arctic Group Inc. will continue to build an internationally
recognized ice company by following a focused acquisition and
consolidation strategy concentrating on geographically contiguous
markets.
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FOR FURTHER INFORMATION PLEASE CONTACT:
The Arctic Group Inc.
TOLL FREE
1-888-573-9237
Web Site at arcticgroup.com |
