Manac Inc., announced today that its Board of Directors has decided to review strategic alternatives with a view to enhancing shareholder value. Manac is a Quebec-based designer and builder of specialty trailers.
Strategic alternatives may include, but are not limited to, a sale of the company, a merger with another company, or another business combination, the company said in a statement.
"Manac has a unique position within the North American trailer industry and this enviable position has significant strategic value," said Michel Labonté, board chairman. Manac intends to continue operations throughout the strategic review process, he said. No decision has been made to enter into any specific transaction at this time, and there is no assurance that the process will lead to one.
The company may ultimately determine that its current business plan best serves shareholders, Labonté added. He said there will be no further comment unless a specific transaction is approved or recommended for approval by the board, the review process is concluded, or further disclosure is appropriate or required by law. Manac has engaged Stifel as its financial advisor for this review process.
Manac offers vans, flatbeds and specialty trailers such as dumps, low beds, grain hoppers, chassis, chip and logging trailers, all of which are sold in Canada and the United States under the Manac, CPS, Peerless, Scona, Darkwing, UltraPlate, Ultravan, FleetSeries and Liddell Canada names. It manufactures its trailers in Quebec, British Columbia and Missouri.