Poised to Benefit from US Infrastructure Bill Tornado Global Hydrovacs Poised to Benefit from US Infrastructure Bill
| Source: Tornado Global Hydrovacs Ltd.
CALGARY, Alberta, Nov. 10, 2021 (GLOBE NEWSWIRE) -- Tornado Global Hydrovacs Ltd. (“Tornado” or the “Company”) (TSX-V:TGH) The US Senate passed a $1.2 trillion USD infrastructure bill (the “Infrastructure Bill”) in August 2021 and the US Congress ratified the Infrastructure Bill on November 5, 2021. The Infrastructure Bill, subject to the final approval of the US President, is expected to create legions of jobs in the US to improve broadband, water supplies and other public works and expected to increase the demand for hydrovac trucks.
The approval the Infrastructure Bill will validate the bold step made by Tornado to triple its manufacturing capacity with the purchase of a new, state of the art, 57,000 square foot facility on 17 acres of land in Alberta, Canada in 2020. Brett Newton, who joined Tornado in June 2021 as President and COO, said, “This prior investment by Tornado in additional manufacturing capacity will greatly assist Tornado in capitalizing on the increasing demand for hydrovac trucks, parts and services by our U.S. dealer and customers. I am absolutely convinced that the outlook for hydrovac demand throughout North America will remain bullish for years to come.”
Tornado management was interviewed by Ronny Grunwald of First Bridge Investment Group, LLC, who has been advising and researching mid stage companies since 2010 and posted a research report on Tornado July 30, 2021 on Seeking Alpha, the largest investing community in the world. The research report discusses the North American hydrovac industry and service providers to the industry, and delves into how Tornado is uniquely positioned to capitalize on the infrastructure bill that is targeting investments in transportation, broadband and utilities, which are all sectors where hydrovac trucks play a key role in safe excavation. A copy of this report is available on the Seeking Alpha platform.
About Tornado Global Hydrovacs Ltd.
The Company designs and manufactures hydrovac trucks as well as provides heavy duty truck maintenance operations in central Alberta. It sells hydrovac trucks to excavation service providers in the infrastructure and industrial construction and oil and gas markets. Hydrovac trucks use high pressure water and vacuum to safely penetrate and cut soil to expose critical infrastructure for repair and installation without damage. Hydrovac excavation methods are quickly becoming a standard in the North America to safely excavate in urban areas and around critical infrastructure greatly reducing infrastructure damage and related fatalities. In China, the Company’s subsidiary is used principally to source certain parts to the Company’s North America operations.
For more information about Tornado Global Hydrovacs Ltd., visit www.tornadotrucks.com or contact:
Brett Newton
President
Phone: (416) 522-6390
Email: bnewton@tghl.ca
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