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Press release from CNW Group

Amendment to the Canam Group Inc. common share buyback program

Thursday, December 15, 2011

Amendment to the Canam Group Inc. common share buyback program15:52 EST Thursday, December 15, 2011BOUCHERVILLE, QC, Dec. 15, 2011 /CNW Telbec/ - Canam Group Inc. (TSX: CAM) today announced that the Toronto Stock Exchange (TSX) has accepted an amendment to its current normal course issuer bid share buyback program in order to allow the Corporation to purchase, during the same previously announced 12-month period, up to 10% of its publicly held common shares as at October 18, 2011. On October 27, 2011, the TSX approved the purchase, for cancellation purposes, of a maximum of 1,629,274 shares, which represented 5% of the 32,585,490 publicly held common shares as at October 18, 2011. Since November 1, 2011, Canam Group has purchased 1,629,000 of its common shares at a weighted average price of $3.12 per share pursuant to the program.The amendment to the normal course issuer bid share buyback program will allow the Corporation to purchase, when deemed appropriate, through the facilities of and in accordance with the requirements of the TSX, up to 1,629,275 additional common shares until October 31, 2012, for a total number of 3,258,549 common shares.In accordance with TSX rules, the Corporation is entitled to purchase on any trading day, through the facilities of the TSX, a daily limit of 8,198 common shares under the Corporation's common share buyback program. The common shares purchased by the Corporation will be cancelled. Canam Group's Board of Directors believes that the purchase of its common shares would be in the best interests of Canam Group and its shareholders. As at December 15, 2011, Canam Group has 43,722,787 issued and outstanding shares.About Canam Group Inc.Canam Group is a leader in the design and fabrication of construction products and solutions and a leading provider of design-build and virtual design and construction services. The company operates more than 25 manufacturing plants and engineering offices in Canada, the United States, Romania, India and China, and has partnerships with companies in Saudi Arabia, the United Arab Emirates and China.For further information: François Bégin Vice President, Communications Tel.: 418 228-8031 Email:  francois.begin@canamgroup.ws    www.canamgroup.ws