Hot off the wireFinning International Inc. Continues Expansion in the U.K. Plant Hire
Market 6/11/01
FINNING INTERNATIONAL INC ("FTT-T") - Continues Expansion in the U.K.
Plant Hire Market
Finning International Inc. ("Finning") announces that, through its
U.K. subsidiary Hewden Stuart ("Hewden"), it has acquired the
materials handling equipment of Maxxiom Limited, consisting of 640
units. This strategic move expands Hewden's fleet of this type of
equipment (telescopic handlers and rough terrain forklifts) to 2,200
units, and further consolidates Hewden's position as one of the
leading plant hire companies in the U.K. The acquisition will be
immediately earnings accretive.
Finning purchased Hewden earlier this year for C$729 million, making
Finning the leading equipment distributor in the U.K. with 400
outlets, 5,700 employees, and combined revenues of C$310 million in
the first quarter of 2001.
Finning International Inc. sells, rents, finances and provides
customer support services for Caterpillar and complementary equipment
in Western Canada, the U.K. and Chile. The corporation's Head Office
is located in Vancouver, B.C., Canada. Finning International Inc.
(www.finning.com) is a widely held, publicly traded corporation,
listed on the Toronto Stock Exchange (symbol FTT). TEL: (604) 331-4937
Finning International Inc. FAX: (604) 331-4899
Anthony R. Guglielmin, Vice President
and Corporate Treasurer Email: aguglielmin@finning.ca Website:
www.finning.com
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