Armtec Completes Acquisition of Assets of Brooklin Concrete Division of Clearford Industries and Shares of Boucher Pre-cast Concrete Ltd.

Toronto Stock Exchange: ARF.UN

GUELPH, ON, July 31 /CNW/ - Armtec Infrastructure Income Fund (the "Fund") (TSX: ARF-UN.TO) today announced that the Fund has completed its acquisition of the assets of the Brooklin Concrete division ("Brooklin") of Clearford Industries and the shares of Boucher Pre-cast Concrete Ltd. ("Boucher") for an aggregate acquisition price of $65 million. The transactions are subject to working capital adjustments.

Scotia Capital Inc. acted as exclusive financial advisor to the Fund on the acquisition.

About Armtec

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The Fund is a leading manufacturer and marketer of a broad range of infrastructure products and engineered bridging solutions for application in a diverse cross-section of industries. These include the public infrastructure market and private sector markets such as natural resources, commercial building, residential construction and agricultural drainage in Canada. The Fund's Armtec division is Canada's only national multi-material manufacturer specializing in corrugated high density polyethylene pipe, and corrugated steel pipe for drainage applications and highly engineered solutions including bridging products and water management systems. The Con-Force division designs and manufactures a wide range of bridging and construction products including the advanced "NU" bridge girder system that allows for some of the longest spans available in precast concrete technology. The Durisol division designs and manufactures highway noise barriers and related infrastructure products, such as retaining walls and acoustic enclosures, and is recognized as the only fully qualified supplier for absorptive material in Ontario. For further information, please visit Armtec's website at www.armtecincomefund.com. Armtec Infrastructure Income Fund is listed on the Toronto Stock Exchange, under the trading symbol ARF.UN

Forward-Looking Statements

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This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). All statements other than statements of historical fact contained herein are forward-looking statements, including, without limitation, statements regarding the future financial position, cash distributions, business strategy, proposed acquisitions (including the Brooklin and Boucher acquisitions and their impact on the Fund's financial performance), budgets, litigation, projected costs and plans and objectives of or involving the Fund or the businesses in which it has invested. Prospective investors can identify many of these statements by looking for words such as "believe", "expects", "will", "intends", "projects", "anticipates", "estimates", "continues" and similar words or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.

By their nature, forward-looking statements require assumptions and are subject to inherent risks and uncertainties, including those discussed herein. There is significant risk that forward-looking statements will not prove to be accurate. You are cautioned not to place undue reliance on forward-looking statements made herein because a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.

The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: industry cyclicality; competition; reduction in demand for products; collection from customers; relationships with suppliers; lack of long-term agreements; expiration of rights under licence and distribution arrangements; raw material price volatility; product liability; intellectual property; reliance on key personnel; environmental; collective bargaining; interest rates; uninsured and underinsured losses; operating hazards; risks of future legal proceedings; dependence on other Armtec entities; income tax matters; leverage and restrictive covenants; credit facilities; nature of units; distribution of securities on redemption or termination of Fund; restrictions on potential growth; effect of market interest rates on price of Units; undiversified and illiquid holdings in Armtec Operating Trust; potential dilution; and various risks relating to the Brooklin and Boucher acquisitions and other proposed acquisitions, including risks relating to integration and realization of expected synergies, Brooklin and Boucher's reliance on key personnel, potential undisclosed liabilities associated with the Brooklin and Boucher acquisitions and other proposed acquisitions, and Armtec's limited recourse against the vendors of Brooklin and Boucher. You are cautioned that the foregoing list of factors is not exhaustive and that when relying on forward-looking statements to make decisions with respect to the Fund, investors and others should carefully consider these factors, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements.

The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The Fund undertakes no obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities law.

Risks related to the Fund have been summarized in the Fund's latest Annual Information Form, Management's Discussion and Analysis included in the Annual Report and quarterly financial reports available on www.sedar.com or the Fund's web site at www.armtecincomefund.com.

Contacts

Charles M. Phillips
President & Chief Executive Officer
Armtec Limited Partnership
Tel: (519) 822-0210
Fax: (519) 822-8894

James R. Newell
Chief Financial Officer
Armtec Limited Partnership
Tel: (519) 822-0210
Fax: (519) 822-8894

Carrie Boutcher
Vice President
Finance
Armtec Limited Partnership
Tel: (519) 822-0210
Fax: (519) 822-8894