Fero Announces the purchase of key Modular Manufacturing Assets and the hiring of 55 Skilled Employees

STONEY CREEK, ON, Sept. 5, 2023 /PRNewswire/ - Effective September 1, 2023, Fero International Inc. (Fero), a volumetric modular manufacturer primarily focusing on healthcare infrastructure, has a new 300,000 square foot home at 950 South Service Road in Stoney Creek, Ontario, where it will build much needed infrastructure using off-site construction techniques.  To achieve this, Fero has purchased key modular manufacturing assets and has hired approximately 55 skilled trade and administrative personnel. 

Fero's proprietary manufacturing technology and healthcare expertise, along with the years of modular manufacturing knowledge coming from the newly hired personnel, will secure Fero's position as the premier provider of best-in-class modular building solutions.

Fero's Chief Executive Officer, Sabrina Fiorellino said "We are thrilled to enter this next stage of Fero's growth strategy, where we have significantly improved control, capacity and capability to deliver much needed healthcare and similar infrastructure solutions at home in Canada, including our remote and underserved communities, as well as abroad.  Fero's modular solutions can significantly reduce delivery times and provide best-in-class quality.  Fero's products are an innovative solution and approach to today's traditional construction challenges."

Fero International Inc.'s mission is to bring cutting edge, sustainable and cost-effective modular solutions to the most vulnerable or remote populations around the world. Fero's products are primarily intended for healthcare, housing and emergency management, through the offering of facilities for hospitals, clinics, laboratories, remote communities, mining sites, military and long-term care homes.

Fero prioritizes the adoption of good corporate governance practices to support sustainable building and manufacturing methods for Fero's products. Fero aims to further improve lives by structuring its operations to address relevant environmental, social and economic improvement considerations. Learn more at ferointl.com.

This news release may contain forward-looking information within the meaning of applicable Canadian and United States securities laws. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "estimates", "intends", "anticipates", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.  Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Any forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.

SOURCE FERO International Inc.