Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.
"The acquisition of Alta Precision Inc. expands our portfolio of commercial products by providing both access to new programs and additional content on existing platforms. It also comes with the backlog and manufacturing capacity necessary to grow the existing business", stated Martin Brassard, CEO of Héroux-Devtek.
Superior Plus Corp. (SPB-T) announced it is considering a sale of its specialty chemicals business which operates under the trade name ERCO Worldwide. “Superior regularly conducts a review of its portfolio of businesses to assess the strategic fit within the overall direction of the company,” the company stated. Superior stated that it will evaluate the best use of the net proceeds if the division is sold, “but expects such proceeds will be used primarily to reduce debt and to invest in U.S. propane distribution acquisitions.” The company said part of the proceeds could also be used to buy back shares.
Drone Delivery Canada (FLT-X) appointed Michael Zahra to the role of CEO, effective immediately. Former CEO and director, Tony Di Benedetto will move into the position of business strategy “continuing to focus on strategic business development initiatives,” the company stated. Mr. Zahra previously held the role of senior vice president of operations and strategy at DDC.
"I am confident in passing the baton to Michael as he has the necessary skills to take DDC to the next level. I look forward to working alongside Michael to continue uncovering key opportunities for the company both in Canada and abroad," stated Mr. Di Benedetto.