Tickers: XTSX:IPC, PINX:IPPQF
Tags: #Children
Langley, BC / TheNewswire / March 25, 2019/ Iplayco Corporation Limited (TSX VENTURE: IPC) ("Iplayco" or the "Corporation"), a leading manufacturer of fun, safe play structures enjoyed by children of all ages, is proud to celebrate its 20th anniversary today. Founded in 1999 in Langley, British Columbia, Canada, the Corporation has installed play structures in over 60 countries and employs over 150 team members at offices in Canada, Italy, Bulgaria and the Philippines.
Iplayco's first project, completed in April 1999, was for a restaurant in San Jose, Costa Rica. Twenty years later, we have completed over 4,000 installations, ranging in value from approximately ten thousand dollars to over two million dollars. Our largest playground order, the 24,938 square foot play center in the Mall of Dharan, Al Khobar, Saudi Arabia is recognized in the Guinness Book of World Records as the largest children's soft-play area ever built.
With sales topping $20 million annually and an expanding international presence bringing opportunities for further growth, Iplayco's success is founded on the drive and creativity of its employees. We are one of very few companies in our industry with the ability to custom-design projects when a customer envisions a play center with elements currently unavailable off the shelf from any supplier. Iplayco designs, manufactures and installs play structures, providing a personalized experience from initial concept to the day a new facility opens its doors to welcome local children for the first time.
The past 24 months have been some of the most satisfying in Iplayco's history, as the Corporation shifts its strategy from heavy reliance on a single strategic partner to developing a more balanced, multinational sales mix. Acquisitions in Europe brought us local marketing and service capabilities that would have been difficult to establish on our own. The result has been over $5 million in related sales since the acquisitions took place in October 2017.
Iplayco's manufacturing facility in the Philippines keeps our team current on industry trends in the Asian market and complements the Corporation's North American and European facilities when we work on special projects. Strengthening demand for Iplayco products in Asia is an important part of our strategy going forward.
Iplayco's headquarters and core operations remain in Langley, where approximately 60 employees manage responsibilities from design to production planning, manufacturing to installation, and the majority of our senior management functions. In 2015, we expanded our floor space to approximately 60,000 square feet to facilitate faster delivery times and greater design flexibility. The increasingly international nature of Iplayco's business now sees managers in a variety of roles traveling extensively for marketing, production and other purposes. It is a sign that we are not only growing but maturing into a truly multinational supplier in our industry.
"Today's anniversary marks a milestone in Iplayco's development that everyone on our team can take great pride in," said Scott Forbes, Iplayco's Chief Executive Officer. "When we think of the millions of families that have enjoyed our play structures, it reminds us why we started this business two decades ago. I am happy to lead a team that has its eye on product quality and business results, while keeping foremost in mind our mission to provide children with an environment in which to have fun and develop through new challenges. That is why we have grown and continue to welcome both repeat business and new clients year after year. It is a credit to our team, and we are only just beginning to realize what this group can achieve."
About Iplayco Corporation Limited
Iplayco is a global leader in the design and supply of premium-quality, fun, safe and durable indoor playgrounds for children. In its 20-year history, Iplayco has supplied playgrounds to over 60 countries worldwide. For more information, please visit www.iplaycoltd.com.
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Cautionary Note Regarding Forward-looking Statements
This news release contains "forward-looking statements" and certain "forward-looking information", within the meaning of applicable Canadian securities legislation, concerning the business, operations, financial performance and condition of the Corporation. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expected to", "intend", "continue", "plans", or similar terminology.
Forward-looking statements and information are based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of the Corporation to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Iplayco will operate in the future including but not limited to: unanticipated costs and expenses and uncertainties relating to the availability and costs of financing needs in the future.
Forward-looking statements and information are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Iplayco to be materially different from those expressed or implied by such forward-looking statements and information, including but not limited to: fluctuation in foreign exchange rates and interest rates; stock market volatility; the requirement for regulatory approvals and third party consents; the impact of general business and economic conditions; risks related to international operations and government relations; liability, competition, loss of key employees and other related risks and uncertainties. Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements and information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements or information. Iplayco does not undertake to update any forward-looking information that are contained or are incorporated by reference, except in accordance with applicable securities laws.
Important factors that could cause actual results to differ materially from the Corporation's expectations are disclosed elsewhere in documents that are available to the public.
For more information, please contact:
Iplayco Corporation Limited
Max Liszkowski
Chief Financial Officer
(604) 607-1111
This announcement is for informational purposes only and does not constitute an offer to purchase, a solicitation of an offer to sell the shares or a solicitation of a proxy.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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