VANCOUVER, Aug. 29, 2018 /CNW/ - Finning International Inc. (TSX:FTT) today announced its intention to expand its dealer relationship with Weiler, Inc., following Caterpillar Inc.'s announcement that it has entered into a preliminary agreement to sell its Cat® purpose-built forestry business to Weiler.
"Finning already has a productive and mutually beneficial relationship with Weiler and we look forward to growing that relationship through distributing this portfolio of machines for the forestry industry through our extensive dealer networks in Canada and South America," said Juan Carlos Villegas, COO of Finning International.
Founded in 2000, Weiler has a long-standing history of successfully manufacturing purpose-built equipment distributed through the Cat® dealer network. Finning will work to distribute Weiler's purpose built-forestry machines including wheel skidders, track feller bunchers, wheel feller bunchers and knuckleboom loaders while continuing to provide Cat's® forestry excavators designed for log loading, processing and other forestry applications. Weiler's product offering is complementary to other specialty forestry lines already offered through Finning.
"We remain strongly committed to our forestry business and expect Weiler's forestry customers will benefit greatly from the exceptional sales and service experience that Finning, as Caterpillar's largest equipment dealer, is proud to be known for," added Juan Carlos Villegas. "We will work with Caterpillar and Weiler during their transition to ensure a seamless customer experience."
Finning International Inc. (TSX:FTT) is the world's largest Caterpillar equipment dealer delivering unrivalled service to customers for 85 years. Finning sells, rents and provides parts and service for equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in Western Canada, Chile, Argentina, Bolivia, the United Kingdom and Ireland.
Forward Looking Information
This release includes "forward-looking information" (as defined in applicable Canadian securities legislation) that is based on expectations, estimates and projections that management believes are reasonable as of the date of this release, but may ultimately turn out to be incorrect.
Wherever possible, words such as "anticipate", "believe", "expect", "intend", "project", "plan", "forecast", "opportunity", "target", "potential" and similar words have been used to identify these forward-looking statements. Forward looking information in this news release includes the proposed sale by Caterpillar Inc. of its purpose-built forestry business to Weiler, Inc. and the proposed expansion of Finning's dealership relationship with Weiler. Information in this release is only considered accurate at the time of issuance but may later be superseded by more current information. Except as required by law, Finning does not undertake any obligation to update the information, whether as a result of new facts becoming known, future events occurring or otherwise.
Assumptions upon which the forward-looking information in this news release are based include that the preliminary agreement between Caterpillar Inc. and Weiler, Inc. will be concluded, with all conditions satisfied or waived, as indicated by Caterpillar in its news release dated August 29, 2018 and that Finning and Weiler will successfully negotiate the expansion of their existing relationship. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Finning to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information in this news release. Important information identifying and describing such risks, uncertainties and other factors is contained in Finning's most recently filed annual information form (AIF) (under the headings "Forward-Looking Information" and "Key Business Risks") and in the management's discussion and analysis of financial results (MD&A) portions of Finning's most recent annual and quarterly financial reports (under the headings "Risk Factors and Management" and "Forward-Looking Disclaimer"). Although Finning has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there may be other factors that cause results, performance or achievements not to be as anticipated or intended. Finning's most recent AIF and annual and quarterly MD&A may be accessed on the Finning website at www.finning.com (in the financial reports section on the Investors page) or the SEDAR website at www.sedar.com.
SOURCE Finning International Inc.
For further information: Investor Relations Inquiries: Mauk Breukels, VP, Investor Relations & Corporate Affairs, (604) 331-4934, [email protected], www.finning.com; Media & Government Relations Inquiries: Elisha McCallum, Director, Global Communications, (604) 331-4992, [email protected], www.finning.com