Vicwest Inc Acquires Majority Ownership Position In All Weather Insulated Panels

Vicwest Inc announced that it has executed its rights under a previously-announced convertible debenture investment and acquired 56% of the common shares of All Weather Insulated Panels (All Weather), a American manufacturer of insulated metal panels (IMP) for industrial, commercial and cold storage applications. The Company's original investment in 2010 in All Weather was in the form of a debenture, convertible at the Company's direction, to common shares having an equity value of 56% of All Weather, and includes rights to intellectual property and patents and a five year call option to purchase the remaining minority ownership interest based upon an agreed earnings formula. Terms of the transaction were not disclosed.