SAINT-GEORGES, Que. – Canam Group (TSX:CAM) said Wednesday it has purchased a 66 per cent stake in Massif Technologies, an engineering firm specialized in wood structures.
Financial terms of the deal were not immediately available.
Canam, a maker of steel construction components, said the addition of the company focused on wood will allow it to offer customers a broader range of options.
“These materials each have their own advantages and few people possess the know-how to successfully combine the two,” said Joel Nadeau, vice-president of the Canam Buildings division.
“This sometimes forces customers to choose one over the other when they can very well be used together. Some customer-owners would also like to integrate engineered wood in certain types of buildings. We will now be able to meet their needs.”
Massif Technologies has offices in Quebec City and Saguenay, Que.