Sales in Chile and the UKFINNING INTERNATIONAL INC ("FTT-T") - Sales in Chile and the UK
Finning International Inc. has announced the delivery of six Caterpillar 797 mining trucks to Minera Los Pelambres, beginning in mid April 2002. Valued at approximately C $30 million, the six new trucks will bring to eleven the total number of 797s operating in Minera Los Pelambres when the last truck is delivered in December 2002. The 797 is the largest mining truck of its type on the market, with the capacity of up to 400 tonnes. Doug Whitehead, President and C.E.O. of Finning International Inc. notes, "this sale reflects the continued success of the 797 mining truck in meeting the needs of our customers in Chile. In addition, this sale is important as Finning Chile continues to expand its share of this important market which provides a long term source of service and parts business for the dealership".
Finning International Inc. also announces a ground breaking long term fleet supply agreement between its wholly owned subsidiary Finning (UK) and Biffa, the UK's largest single supplier of integrated waste management services and a subsidiary company of Severn Trent plc. The agreement, worth C $32 million, includes the supply, repair and maintenance of over 65 Caterpillar "waste handler" machines including 15 landfill compactors of which four are the new 53 ton 836G.
Speaking on behalf of Finning (UK), Mike Penn, Director for Construction Equipment notes, "this strategic alignment is another example of how Finning can bring real value to our waste customers through a thorough understanding of their business needs and it further consolidates our leadership position in this growing industry".
Finning International Inc. sells, rents, finances and provides customer support services for Caterpillar equipment and engines, 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 Anthony R. Guglielmin, Vice President and FAX: (604) 331-4899 Corporate Treasurer
Finning International Inc. Email: aguglielmin@finning.ca Website: www.finning.com