AirBoss of America
AirBoss of America, founded in 1989 and headquartered in Newmarket, Ontario, operates through three divisions: AirBoss Defense Group, AirBoss Rubber Solutions, and AirBoss Engineered Products. The company is publicly traded on the TSX under BOS and on the OTCQX under ABSSF, and focuses on providing innovative solutions in defense, rubber compounding, and anti-vibration technologies while maintaining a commitment to sustainability and environmental responsibility.
Company History
AirBoss of America was founded in 1989 and has since grown into a significant player in the rubber and protective equipment industries. The company is headquartered in Newmarket, Ontario, and operates several manufacturing facilities across Canada and the United States. AirBoss trades on the TSX under the symbol BOS and on the OTCQX under the symbol ABSSF.
Divisions and Operations
AirBoss of America operates through three main divisions: AirBoss Defense Group, AirBoss Rubber Solutions, and AirBoss Engineered Products. AirBoss Defense Group is a leader in personal and respiratory protective equipment, serving defense, healthcare, and first responder communities. AirBoss Rubber Solutions is a major custom rubber compounder in North America, handling nearly 600 million turn pounds annually. AirBoss Engineered Products provides innovative anti-vibration solutions to the North American automotive market and other sectors.
Recent Financial Performance
AirBoss Rubber Solutions saw a 27.9% increase in gross profit in Q1 2024 compared to Q1 2023, whereas AirBoss Manufactured Products experienced a 26.2% decrease in net sales during the same period. The company also maintains a $150 million credit facility and declared a quarterly dividend of C$0.035 per common share to be paid on July 15, 2024. As of March 31, 2024, AirBoss had a net debt to TTM Adjusted EBITDA ratio of 4.70x.
Sustainability and Environmental Policies
AirBoss of America focuses on pollution prevention and waste reduction, consistently improving their facility operations, processes, products, and environmental management systems. The company uses sustainably grown natural rubber and recycled rubber from end-of-life tires and has adopted a corporate sustainability policy to affirm its commitment to environmental, social, and governance (ESG) responsibility. AirBoss is ISO 9001 certified, which ensures the quality of its products and services.
Noteworthy Contracts and Achievements
AirBoss Defense Group was awarded a Bandolier contract valued at up to US$45 million, emphasizing its role as a global leader in protective equipment technology. The company continues to serve a broad range of sectors through its various divisions, including automotive, heavy industry, construction, oil & gas, healthcare, and defense.