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Industrial Distribution Group Withdraws From Proposed Transaction To Acquire Commercial Solutions Inc.
By: Marketwired .
Jan. 24, 2013 09:52 PM
EDMONTON, ALBERTA -- (Marketwire) -- 01/25/13 -- COMMERCIAL SOLUTIONS INC. ("Commercial" or "Company") (TSX:CSA), was advised today by Industrial Distribution Group, Inc. ("IDG"), that the Board of Directors of IDG has determined to withdraw IDG's proposal to acquire the Company.
Headquartered in Edmonton, Alberta, Commercial is one of Canada's leading independent industrial distributors with 23 Services Centres and approximately 275 employees located primarily in Western Canada. Commercial offers more than 160,000 items critical to maintenance repair and operations (MRO) and original equipment manufacturer (OEM) customers. The Company represents 450 leading manufacturers and serves over 11,000 customer accounts within a broad cross-section of industries, including oil and gas, forestry, agriculture, firefighting, food processing, chemical processing, mining, utilities, manufacturing, and construction. Commercial trades under the symbol "CSA" on the Toronto Stock Exchange. For further information on the Company, please visit www.commercialsolutions.ca and for detailed financial information visit www.sedar.com.
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