07:50 AM EDT, 07/08/2024 (MT Newswires) -- AirBoss of America ( ABSSF ) said on Monday that it began a strategic review to explore alternatives for the company, including the potential monetization of its real estate assets.

The company said the review is part of its transition plan to realign into two segments: AirBoss Rubber Solutions and AirBoss Manufactured Products.

"We are committed to exploring all options to create value, with a focus on prioritizing key investments within our core competencies and continuing the transformation of AirBoss into a global market leader in the custom rubber compounding market and the other industries which it serves," said Gren Schoch, the company's chairman and co-CEO.

The company's share price fell 2.6% last Friday to $5.25 on the TSX.