Monday, October 6, 2014

Superior Plus Corp - SPB.t

Superior Plus Corp - SPB.t operates through 3 divisions; Energy Services, Specialty Chemicals, and Construction Products Distribution.

On October 6, 2014, the company reported NEWS

"Superior Plus Corp. ("Superior" or the "Corporation") (TSX:SPB) announces that, after completion of its strategic review process, which involved the review, assessment and negotiation of formal offers for the sale of its Construction Products Distribution business ("CPD"), it has concluded that it is not in the shareholders' best interests to proceed with a sale of CPD at this time. Superior intends to continue with its previously announced business transformation project to fully integrate CPD's commercial and industrial insulation and gypsum specialty distribution operations which had been placed on hold during the strategic review of CPD.

Luc Desjardins, President and Chief Executive Officer stated, "Based upon my experience and our business transformation success at Propane Canada ("Propane") and U.S. Refined Fuels ("USRF"), we see excellent growth for our shareholders as we continue to improve the operations of all of our businesses, including CPD. The CPD business has excellent short-term and long-term growth opportunities, and I am confident in Superior's ability to continue to effectively grow in all three of our current businesses. Superior remains committed to achieving the financial targets we set out as part of Destination 2015 and are on track to reach our targeted total debt to EBITDA leverage ratio of 3.0x to 3.5x by December 31, 2015."

About the Corporation

Superior consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates, providing fixed-price energy services, and supply portfolio management; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products."