Press Release
For Immediate Release
Date: April 25, 1997

Atlantic Store Decor to build new plant in Roseneath, Prince Edward Island

Tim Banks, President of Atlantic Store Decor Inc., is pleased to announce the construction of a new 52,000 sq. ft. manufacturing plant in Roseneath, P.E.I. Expansion into this new facility will give A.S.D. the ability to respond to demand in an ever growing market in the manufacture of store display fixtures. A.S.D., already a leading Maritime manufacturer of high quality store fixtures and displays for the Atlantic Canada and Ontario markets, will now have the capacity to reach the U.S. and other export markets.

Atlantic Store Decor has experienced continuous growth since its start-up in the fall of 1992. The new facility will provide the opportunity to expand production and introduce new product lines. Mr. Banks said, "As an "Island" company, we rely on our local talent who have demonstrated our competitiveness and craftsmanship over the past several years and have allowed us to ship products to markets thousands of miles away".

Today, in addition to the start of construction of a new plant, Atlantic Store Decor is launching "Roseneath Homes", a new product line of affordable chalet homes and cottages, which will be developed and manufactured in their new plant in response to the growing demand for tourist and resident vacation homes.

Existing Product Line/Customer Profile

A.S.D. manufactures high quality, hand-crafted retail display units using selected top grade natural woods on the exterior skins and a combination of high density, textured wood and fibre products for the structural framing of these units. Plastic laminates, metal framing, stainless bumpers, and other components are also used, however, because of the inadequate size of the existing plant facility and the less than adequate tooling available, the plant is not as competitive in this aspect of store fixturing as would be desirable. The proposed new plant will provide the ability to mass produce these components, using the same basic skills used in the wood production assembly, on a more cost and time efficient basis.

A.S.D. has been a primary supplier of custom millwork to Loblaw and Atlantic Wholesalers. A.S.D.'s client base has expanded during the past two years with the completion of store display fixtures for clients such as Bimini, Great Northern Knitters, Smitty's, Home Decor Centre, and Biway.

Overview

A.S.D. was formed in 1992 to manufacture retail store fixtures in response to customer demands on A.P.M., the construction division of the A.P.M. Group of Companies. As a base building contractor, the ability to provide integrated store fixturing was vital to A.P.M.’s continued growth and success in constructing retail facilities for National Retail Accounts.

A.S.D. has filled this market-driven need and has continued to grow and expand its product lines. A.S.D. is now a mature and competitive value-added manufacturer of store fixtures, not only as a compliment to A.P.M. 's construction contracts, but as a stand-alone provider of quality retail fixturing to a wide range of customers requiring major in-store renovations and merchandise display units.

A.S.D. is a member of the A.P.M. Group of Companies, which are owned and managed by Tim Banks. The A.P.M. Group is involved in construction, manufacturing, real estate development, property management and retail merchandising. Currently, the A.P.M. Group has combined sales in excess of $20 million annually and employs over 100 persons.