IPL to review strategic objectives

Custom molder IPL Inc. has begun a strategic review of future strategic objectives and possible growth opportunities.

According to the Saint-Damien, Que.-based company, the review is being carried out by a committee of independent directors, with Ernst & Young Orenda Corporate Finance Inc. retained as advisors to assist in the process.

The company said that its board of directors was supportive of the review. “This process, which should allow IPL to recapitalize and finance its growth, is supported by its principal shareholders,” said Julien Metivier, IPL’s Chairman.

IPL also noted that it would not be bound by any possible recommendations.

IPL employs close to 900 people in its four plants located in Saint-Damien, Saint-Lazare and Lawrenceville, Que., and Edmundston, N.B. The company manufactures and markets over 400 products for the packaging, materials handling and environment sectors.