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Announcement to NorTerra Shareholders and Staff

by NationTalk on April 3, 2007660 Views

April 2, 2007

NorTerra Inc. Acquires New Subsidiary

NorTerra Inc. has reached an agreement to acquire Independent Industrial Supply of Northern British Columbia and the Northern Metalic Sales branches located in the Northwest Territories and the Yukon. The merged companies will be known as Northern Industrial Sales.

This merger and acquisition, sees the NorTerra Group of Companies diversifying into the industrial supply sector, a move that is entirely compatible with our business objectives. The company will continue to serve the industrial supplies and equipment needs of the north, particularly in the mining, forestry, oil and gas, industrial, government, and community business sectors, and as a result of its increased scale will be in a position to enhance its service to customers and partners and develop its profile with suppliers. Northern Industrial Sales will be the largest provider of industrial supplies north of 60, and will have BC branches in: Prince George, Terrace, Chetwynd, Prince Rupert, and Quesnel and northern branches in: Whitehorse, Hay River, Yellowknife, Norman Wells, Inuvik, Watson Lake, and Dawson City.Given the growth potential of the company, this acquisition represents positive news for the NorTerra Group of Companies and our owners. The sellers were particularly keen to work with a company with a proven track record of success in the north and a comprehensive understanding of the unique needs of northern industries. The potential for expansion was a key feature of this business acquisition.

The focus of the new company will remain on offering service that is professional, prompt, and infused with local knowledge. Plans are currently in place for NorTerra leadership staff to meet with staff of Northern Industrial Sales across the region.

The newly appointed President of Northern Industrial Sales is Derek Wilson, former owner of Independent Industrial Supply.

For more information, please contact:
Carmen Loberg
President, NorTerra
Phone: (780) 423-9272

Patrick Schmidt, Vice President
Business Development NorTerra
Phone: (780) 423-9252 Derek Wilson, President
Northern Industrial Sales
Phone: (250) 562-4435

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