RYGÿÿ1997-10-08 ÿÿ(provided courtesy of ISDN Wire Service)
ROYAL GROUP TECHNOLOGIES ANNOUNCES CDN 22 MILLION DOLLAR ORDER FOR THE
ROYAL BUILDING SYSTEM
TORONTO, ONTARIO--
Royal Group Technologies Limited (RYG:TSE,NYSE,ME) announced today that it
has received an order for the supply of components of The Royal Building
System to Sakhalin Island, which is located in eastern Russia. The System
will be used to construct 800 housing units for victims of a recent
earthquake which hit the area.
The contract, which is worth approximately $22 million to Royal, will be
manufactured in Royal's Building System plant located in Ontario, Canada and
shipped to the the island of Sakhalin, where local contractors will construct
the housing units. Canada's Economic Development Corporation is participating
in the financing of the project.
Royal has recently secured orders for supply of components of the System from
many other parts of the world, including Eastern Europe, South America, the
Caribbean, Canada and parts of Asia. These orders include a 2160 home project
in the Philippines, a 400 home project in Argentina, an 86 home project in
Poland and a resort complex on the island of St. Kitts. Royal's worldwide
backlog for the System now exceeds $Cdn 70 million. Delivery dates for these
orders range from fall of 1997 through fall of 1999.
Vic De Zen, Royal's Chairman, President and C,E,O., commented on recent
orders for The Royal Building System TM saying, "the scale of projects using
the System continues to grow all around the world, as builders become
increasingly aware of its ease of construction and maintenance, as well as
its durability and affordability". He added that, "a number of other large
scale projects for residential, commercial and institutional uses of the
System are on the drawing boards, including schools and car washes".
Royal Group Technologies Limited is one of North America's largest extruders
of vinyl building products, with extensive vertical integration. Its
Building Products Group focuses on custom profiles (windows, doors, fencing
& decking, and recently, garage doors), vertical window blinds, siding and
pipe. Its Building Technologies Group focuses on The Royal Building System
(TM) (for residential, commercial, industrial and institutional construction)
and product lines derived from the System including foundations, garages and
sheds. Royal's manufacturing facilities are primarily located in North
America, with recent additions of facilities in Italy and Argentina and
plants well under construction in China and Colombia. Additional
manufacturing site plans include Poland and the Philippines.
For more information contact:
Vic De Zen
Chairman, President and C.E.O.
Mark Badger
Vice President, Corporate Communications
Phone (905) 264 0701
Fax (905) 264 0702
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