Welcome to our dedicated page for Mattr news (Ticker: MTTRF), a resource for investors and traders seeking the latest updates and insights on Mattr stock.
Mattr Corp (MTTRF) generates frequent news flow through earnings releases, strategic updates and corporate announcements related to its role as a global materials technology company serving critical infrastructure markets. The company’s disclosures emphasize its Composite Technologies and Connection Technologies segments, which it links to transportation, communication, water management, energy and electrification applications.
Investors following Mattr’s news can expect detailed quarterly and annual results, including commentary on revenue, operating income and Adjusted EBITDA from Continuing Operations and Discontinued Operations. The company provides segment-level highlights for Composite Technologies and Connection Technologies, discussing performance of business lines such as Flexpipe, Xerxes, Shawflex, AmerCable and DSG-Canusa.
News items also cover portfolio developments, including the acquisition of AmerCable, described as a U.S. manufacturer of highly engineered wire and cable solutions, and the sale of Thermotite do Brasil, Mattr’s final remaining pipe coating business. These announcements frame the company’s strategic transformation and its focus on core infrastructure-oriented technologies.
Additional coverage includes updates on the Modernization, Expansion and Optimization (MEO) strategy, new and upgraded manufacturing facilities, Normal Course Issuer Bid activity, annual meeting voting results, director appointments and the company’s schedule for future earnings releases and conference calls. Readers who monitor this page can review how management describes demand trends across electrification, mining, energy extraction, industrial, automotive, retail fueling and water management end markets as part of its outlook commentary.
Mattr Corp. (TSX: MATR) has completed its acquisition of AmerCable Incorporated from Nexans USA Inc. for US$280 million. The acquisition integrates AmerCable into Mattr's Connection Technologies reporting segment, establishing Mattr's presence in US wire and cable manufacturing.
AmerCable specializes in manufacturing highly engineered low and medium voltage electrical power, control, and instrumentation cables for harsh environments. The company serves critical infrastructure sectors, including mineral extraction, renewable power generation, general industrial, and energy markets.
The acquisition expands Mattr's existing Shawflex branded products portfolio, strengthening its position as a premier provider of engineered wire and cable technologies across North America. Mattr operates through two business segments: Composite Technologies and Connection Technologies, focusing on critical infrastructure markets including transportation, communication, water management, energy, and electrification.
Mattr Corp. (TSX: MATR) has announced two significant developments: First, the expiration of the HSR Act waiting period for its planned US$280 million acquisition of AmerCable from Nexans USA Inc., with the transaction expected to close around January 2, 2025. Second, following this regulatory approval, the company confirmed the conversion of its previously announced 125,000,000 debt subscription receipts into 7.25% senior unsecured notes due April 2, 2031.
AmerCable specializes in manufacturing engineered electrical power, control, and instrumentation cables for harsh environments, serving critical infrastructure sectors including mineral extraction, renewable power generation, and energy markets. The net proceeds from the debt offering will partially fund the AmerCable acquisition.
Mattr Corp. (TSX: MATR) has successfully closed its private offering of debt subscription receipts, raising gross proceeds of approximately $129.3 million. The proceeds will partially fund the acquisition of AmerCable Incorporated, expected to close in Q1 2025. The offering consists of 125,000,000 subscription receipts, which will convert into 7.25% senior unsecured notes due April 2, 2031. Upon conversion, the total outstanding notes will amount to $300 million. The offering was conducted through TD Securities and National Bank Financial Markets, targeting accredited investors in Canada and qualified institutional buyers in the US under Rule 144A.
Mattr Corp (TSX: MATR) has issued a correction to its earlier press release regarding the pricing of debt subscription receipts. The yield to maturity on 125,000 Subscription Receipts has been corrected from 6.375% to 6.735%.
The company is selling these receipts at $1,018.75 per unit through a private placement offering, generating approximately $129.3 million in gross proceeds. Each receipt will convert into a 7.25% senior unsecured note due April 2, 2031. The proceeds will partially fund the acquisition of AmerCable Incorporated, expected to close in Q1 2025.
The offering, led by TD Securities and National Bank Financial Markets, is available to accredited investors in Canada and qualified institutional buyers in the US under Rule 144A. The closing is anticipated around December 19, 2024.
Mattr Corp (TSX: MATR) has announced a private placement offering of 125,000 debt subscription receipts at $1,018.75 per receipt, yielding 6.375%, for gross proceeds of approximately $129.3 million. Each subscription receipt will convert into a 7.25% senior unsecured note due April 2, 2031, with a principal amount of $1,000.
The proceeds will partially fund the previously announced acquisition of AmerCable Incorporated, expected to close in Q1 2025. Following the issuance, $300 million aggregate principal amount of 7.25% senior unsecured notes will be outstanding. The offering, led by TD Securities and National Bank Financial Markets, is expected to close around December 19, 2024.
Mattr Corp reported Q3 2024 results with consolidated revenue of $250 million, net income of $13 million, and adjusted EBITDA of $37 million. Revenue from Continuing Operations increased 2% to $226 million. The company announced the sale of Thermotite for $17.5M USD and plans to acquire AmerCable for $280M USD. The Composite Technologies segment saw a 3% revenue decrease to $136 million, while Connection Technologies revenue grew 10% to $90 million. The company remained active in share buybacks, repurchasing 1.44M shares for $22.2M during Q3. Management expects Q4 2024 to see seasonal slowdown and has implemented cost reduction measures targeting $20M in annual savings.
Mattr Corp has agreed to acquire AmerCable from Nexans USA for US$280 million, representing approximately 5.0x TTM Adjusted EBITDA. The acquisition will enhance Mattr's wire and cable capabilities in the U.S. market and strengthen its Connection Technologies segment. The transaction is expected to close around year-end 2024, subject to regulatory approvals. The deal will be immediately accretive to earnings per share by over 40% before synergies and will be financed through cash and existing credit facilities. Post-acquisition, the Connection Technologies segment will represent 54% of consolidated revenue, adding >C$75 million in TTM Adjusted EBITDA.
Mattr Corp (TSX: MATR) has announced its participation in the 16th Annual Southwest IDEAS Investor Conference in Dallas, TX. Mike Reeves, President & CEO, and Tom Holloway, SVP Finance & CFO, will deliver a presentation on November 20, 2024, at 8:35am CT at The Statler. The presentation will be accessible via webcast through both the conference website and Mattr's investor relations section.
Mattr Corp (TSX: MATR) has scheduled its Q3 2024 earnings conference call for Thursday, November 14th, 2024, at 9:00 AM ET. The company will release its financial results for the period ended September 30th, 2024, on Wednesday, November 13th, 2024, after TSX market close. A presentation will be available on the company's website prior to the earnings call. Mattr operates in critical infrastructure markets through two segments: Composite Technologies and Connection Technologies, focusing on infrastructure renewal and enhancement.
Mattr Corp. (TSX: MATR) has announced a definitive agreement to sell its Brazilian pipe coating subsidiary, Thermotite do Brazil, to Vallourec Tubular Solutions for US$17.5 million (approximately CAD$24 million). This transaction marks the final divestment of Mattr's pipe coating business, aligning with the company's strategy to simplify its portfolio and focus on high-return growth in core businesses.
The deal, subject to regulatory approvals, is expected to close within the standard review time. Mattr will retain control and earnings from Thermotite until closing. CEO Mike Reeves stated that this transaction concludes their strategic review process and enhances Mattr's ability to deliver focused growth in remaining core businesses. Thermotite will be reported as an asset held for sale effective September 2024.