MONTREAL, March 17, 2015 /CNW Telbec/ - Imaflex Inc. (TSXV:
IFX) anticipates top-line revenue of approximately $60-million for the year ended December 31, 2014, as compared to $56-million in 2013. The company anticipates
releasing its full audited 2014 financial results on April 21, 2015.
"Our legacy plastics businesses performed as expected in 2014,
allowing us to invest in our novel agricultural film products, an
area where we see the majority of the company's future growth
deriving," commented Joe
Abbandonato, President and Chief Executive Officer of
Imaflex. "In 2014 we dramatically changed our agricultural
film portfolio, through the acquisition of ADVASEAL from Bayer and
the launch of SHINE N' RIPE XL. Adding these two highly
differentiated products to our already diverse portfolio of
agricultural films, positions Imaflex as a leader in the large and
growing agricultural mulch film market."
Imaflex is also pleased to announce its corporate goals and
objectives for 2015:
- Provide the company's patented active ingredient coated
agricultural film, ADVASEAL, to select American growers for testing
in the 2015 growing season
- Build awareness and adoption of SHINE N' RIPE XL, the company's
long lasting metalized film for the management of citrus greening,
among citrus growers, citrus industry organizations, and government
bodies
- After significant effort and changes over the past several
years, Imaflex USA, the company's
US operations, will finally become a positive contributor to
consolidated earnings
Mr. Abbandonato added: "We are expecting to see increasing
rewards for our investment in, and commitment to, the agricultural
film business. I anticipate agricultural films will not only
become an important revenue contributor, but also our means towards
greater EBITDA margins, in the near future."
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statement on Forward Looking Information
Certain information included in this press release constitutes
"forward-looking" statements within the meaning of Canadian
securities laws. Forward-looking statements are necessarily based
upon a number of estimates and assumptions that, while considered
reasonable by the management of the Corporation, are inherently
subject to significant business, economic and competitive
uncertainties, risks and contingencies. The Corporation cautions
the reader that such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual financial results, performance or achievements of Imaflex to
be materially different from the Corporation's estimated future
results, performance or achievements expressed or implied by those
forward-looking statements and that the forward-looking statements
are not guarantees of future performance. These statements are also
based on certain factors and assumptions. For more details on these
estimates, risks, assumptions and factors, see the Corporation's
most recent Management Discussion and Analysis filed on SEDAR. The
Corporation disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
events or otherwise, except as expressly required by law. Readers
are cautioned not to put undue reliance on these forward-looking
statements.
SOURCE Imaflex Inc.