The company has entered into an agreement to merge its defense business and other operations in Acton Vale, Quebec, with Critical Solutions International Inc., a privately owned Charleston, S.C.-based global supplier of route clearance vehicles, countermine and survivability products to U.S. and foreign military forces.
KITCHENER — AirBoss of America Corp. is expanding its capabilities at its Kitchener rubber compounding plant.
The company, headquartered in Newmarket, said it is expanding production in its one million-square-foot plant on Glasgow Street by adding a dedicated white and colour mixing line. In a news release, the company said the new line is expected to increase its market penetration in white and coloured specialty rubber compounds thanks to improved quality and lower production costs.
The new line is expected to be fully operational by March.
NEWMARKET, Ontario, May 09, 2018 (GLOBE NEWSWIRE) — AirBoss of America Corp. (TSX:BOS) ($US except where otherwise noted) Highlights: Consolidated net sales increased by 15.2% to $80.5 million Net sales in the Engineered Products’ defense business more than doubled EBITDA increased by 7.2% to $7.5 million Quarterly dividend paid of C$0.07 per share Basic and diluted earnings per share of $0.14 per common share compared to $0.12 per common share in Q1 2017 Three months ended March 31 (In thousands of US dollars) 2018 2017 Net Sales 80,549 69,927 Gross …
NEWMARKET, ON–(Marketwired – May 09, 2017) – AirBoss of America Corp. (TSX: BOS)
(In US dollars)
- Quarterly dividend paid of C$0.07 per common share, an increase of 17% over Q1 2016
- Completed business unit reorganization to form a new Rubber Solutions reporting segment and a new Engineered Products reporting segment
- Balance sheet remains strong with net debt to total capital reduced from 40.5% to 31.2%
Valuation & Recommendation:
Through comprehensive analysis using both the discounted cash flow model and comparable companies’ model, we determined the estimated share price of AirBoss of America to be $15.17. Presently, the market values AirBoss of America shares at $12.84. Given AirBoss of America’s current financial position and present economic conditions, we believe the market is undervaluing the price of its stock and recommend a buy rating. Based on our analysis, in our view, a target price of $15.17 more accurately reflects the value of AirBoss of America shares.
- Turbulence in raw material prices has damaged Airboss’s bottom line and caused the company to become overly sensitive to macroeconomic headwinds.
- Recent efforts to diversify product portfolio and customer base have yet to be priced into Airboss’s stock.
- With a healthy balance sheet and a low debt/equity ratio, Airboss is fully capable of inorganic growth in an otherwise sluggish industry.
The Rubber Recycling Symposium will once again draw an international audience to exchange ideas and discover the latest in the rubber and tire recycling technologies, products, and policies.
Created and organized by Tire and Rubber Association of Canada (www.tracanada.ca), and co-sponsored by Ontario Tire Stewardship and the Rubber Manufacturers Association (RMA), the Symposium will take place in Niagara Falls on October 5-7, and bring together tire manufacturers, processors, transporters, equipment manufacturers, stewardship organizations, government and academia.
This year’s event drives toward the latest advances in achieving the circular economy in the rubber and tire industries, and the event program includes topics from global legislative trends to the industry’s conversation on the significance of new initiatives and technologies that drive innovation and create high-value products.
The leading industry experts from Canada and U.S. will discuss the challenges and trends in global legislative and regulatory environments, and will focus the conversation on regulations that promote tire recycling and innovative ideas that drive the circular economy.
In Focus: Remaking of the Ontario Tire Recycling Program
With the tire diversion rate at 93 per cent, Canada is one of the global leaders in tire and rubber recycling; however, the new Waste-Free Ontario Act will see the Ontario Tire Stewardship program wind-up and be replaced by something new.
Science and Technology
Tire manufacturers will discuss the global Tire Industry Project (TIP), the significance of the guayule plant as a viable alternative source of latex for the tire industry, and the segment on synthetic turf will discuss the alleged carcinogenic controversy and new research in this important area.
The Holy Grail of rubber recycling – tires made from 100 per cent recycled rubber – may still be out of reach, but the panel including AirBoss, Tyromer and others will show how the industry continues to lower its environmental impact using efficient tire technologies and introduction of recycled materials in tire production.
By popular demand, the event will conclude with CEO panel from major tire processors on challenges, opportunities and outlook, sharing their unique perspectives on tire recycling markets.
Join the conversation on October 5-7, in Niagara Falls, meet all the key industry players, learn and contribute your solutions to the tire and rubber recycling industry.
Visit event details here, and register for this unique event.