Canadian trailer maker Manac to explore potential sale
TORONTO, March 30 (Reuters) - Manac Inc, the largest manufacturer of truck trailers in Canada, said on Monday its board has begun a strategic review to explore a potential sale or merger.
Saint Georges, Quebec-based Manac, which makes flatbeds and other specialty trailers like grain hoppers and logging trailers that are sold across Canada and the United States, said plans to continue normal business activities through the strategic review process, and its business operations will be unaffected.
Manac said it has engaged Stifel as its financial advisor in connection with this review process. The company said there can be no assurances that the process will lead to a transaction.
The company that began operations in the mid-1960s went public in 2013. Two of Quebec's largest fund managers, Fonds de Solidarité and Caisse de depot et Placement du Quebec, together own about 30 percent of Manac's shares, according to Thomson Reuters data. (Reporting by Euan Rocha; Editing by Chizu Nomiyama and Nick Zieminski)
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