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Gold/Mining/Energy : MAAX INC. (MXA) -- Ignore unavailable to you. Want to Upgrade?

To: Gilbert Drapeau who wrote (18)	10/2/2002 9:05:18 AM
From: Gilbert Drapeau	Respond to of 37

MAAX Inc. Achieves a Further Increase in Profit Margins in the Second Quarter SAINTE-MARIE, QUEBEC--2002-10-02 adviceforinvestors.com

To: Gilbert Drapeau who wrote (18)	10/28/2002 6:38:07 PM
From: Gilbert Drapeau	Read Replies (1) \| Respond to of 37

MAAX Completes the Acquisition of Aker Plastics SAINTE-MARIE, QUEBEC--OCTOBER 28, 2002 - 11:47 EST MAAX Inc. (TSX: MXA) announces it has finalized the acquisition of the shares of Aker Plastics Company, Inc., the third largest manufacturer of fiberglass bathroom products in the United States. Solidly established since 1967, Aker Plastics also manufactures acrylic bathroom products. It operates three plants: one in Martinsburg, West Virginia, and two in Plymouth, Indiana. Together they cover a total area of 365,000 square feet and employ some 800 people. The Company serves a distribution network of plumbing wholesalers and benefits from an excellent reputation for quality and service. The transaction is for a total consideration of US$78 million subject to certain adjustments, including US$64 million on the closing and US$14 million in notes payable over a three-year period. The outlays are being assumed directly out of MAAX's cash and cash equivalents. The transaction is retroactive to September 1st, 2002, and Aker's experienced management team is staying in place. "We are very happy about this transaction which meets our acquisition and financial criteria," indicated Placide Poulin, MAAX's Chairman of the Board. Aker will add some US$75 million (Cdn$110-115 million) to MAAX's annual business volume while also contributing positively to the Company's profitability. Andre Heroux, President and Chief Executive Officer at MAAX, specified: "This acquisition holds many strategic advantages and we have already mapped out an integration plan to optimize its commercial, manufacturing and operational synergies over a period of 12 to 18 months." /T/ The primary advantages of this acquisition consist of: * the strengthening of MAAX's geographical presence in the U.S. Northeast and Midwest; * the addition of a brand proven for over 35 years throughout a solid distribution network of plumbing wholesalers; * the launch of several of MAAX's product lines within Aker's distribution network, including shower doors and acrylic products; * the distribution of Aker's products to other regions in the United States; and * considerable savings in operating costs. /T/ Management estimates this acquisition should bring MAAX's consolidated sales for fiscal 2002-2003 to some $615 million and its earnings per share before amortization of goodwill to the $1.40 to $1.45 range. A conference call will be webcasted simultaneously on www.q1234.com and www.maax.com at 10:00 a.m. on October 28, 2002, and will be available subsequently at both websites. MAAX Inc. is a leading North American manufacturer of bathroom products and accessories, spas and kitchen cabinets. The Company currently employs 3,600 people in 26 plants and distribution centres across Canada, the United States and Europe. Its common shares are traded on the Toronto Stock Exchange under the ticker symbol MXA. PROSPECTIVE FINANCIAL INFORMATION This press release includes forward-looking statements that involve a number of risks and uncertainties. The Company would like to point out that its results, or the measures it adopts, could differ materially from those indicated or underlying these statements, or could have an impact on the realization of a particular financial projection.