TSX Symbol: SQP
- Exclusive Dealer Agreement in Key Canadian Markets -
MISSISSAUGA, ON, July 14, 2014 /CNW/ - Strongco Corporation (TSX:SQP) announced today it has been granted exclusive distribution rights for the Konecranes line of heavy lifting equipment in Alberta, Saskatchewan, Manitoba, Nunavut, Ontario, Quebec, New Brunswick, PEI, Nova Scotia, and Newfoundland and Labrador.
The agreement includes the complete line of fork lift trucks with lifting capacities ranging between 10 and 65 tons, empty and laden container handlers with lifting capacities ranging between 8 and 46 tons, and three main types of reach stackers, all servicing the manufacturing, shipyards, ports, terminals, heavy-concrete and steel-handling industries. Konecranes is the world's leading provider of lifting equipment and associated services, designing, customizing and manufacturing lift trucks for demanding applications for more than 50 years.
"We're pleased to have Strongco support our product line," said Phil Stevens, North America Region Director, Konecranes, Inc. "This partnership offers us a significant platform to supply our products throughout Canada, backed by Strongco's branch network across the country."
"The addition of Konecranes is consistent with Strongco's strategy to expand our position as a leading equipment dealer representing globally recognized brands," stated Bob Dryburgh, President and Chief Executive Officer of Strongco. "Their respected range of equipment for the intermodal industry is an excellent complement to the lines we represent in our Crane Business Unit, and broadens the choices we offer our existing and new customers."
About Strongco Corporation
Strongco Corporation is a major multiline mobile equipment dealer with operations across Canada and in the United States, operating through Chadwick-BaRoss, Inc. Strongco sells, rents and services equipment used in diverse sectors such as construction, infrastructure, mining, oil and gas, utilities, municipalities, waste management and forestry. The Company has approximately 750 employees serving customers from 27 branches in Canada and five in the United States. Strongco represents leading equipment manufacturers with globally recognized brands, including Volvo Construction Equipment, Case Construction, Manitowoc Crane, including National and Grove, Terex Cedarapids, Terex Finlay, Terex Fuchs, Terex Trucks, Ponsse, Fassi, Allied Construction, Taylor, ESCO, Dressta, Sennebogen, Jekko, Takeuchi, Link-Belt and Kawasaki. Strongco is listed on the Toronto Stock Exchange under the symbol SQP.
Konecranes is a world-leading group of Lifting Businesses™ offering lifting equipment and services that improve productivity in a wide variety of industries. The Company is listed on NASDAQ OMX Helsinki Ltd (symbol: KCR1V). With over 12,000 employees at more than 600 locations in almost 50 countries Konecranes has the resources, technology and determination to deliver on the promise of Lifting Businesses™.
This news release contains "forward-looking" statements within the meaning of applicable securities legislation which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Strongco or industry results, to be materially different from any future results, events, expectations, performance or achievements expressed or implied by such forward-looking statements. All such forward-looking statements are made pursuant to the "safe harbour" provisions of applicable Canadian securities legislation. Forward-looking statements typically contain words or phrases such as "may", "outlook", "objective", "intend", "estimate", "anticipate", "should", "could", "would", "will", "expect", "believe", "plan" and other similar terminology suggesting future outcomes or events. This news release contains forward-looking statements relating to the expected trading of common shares of Strongco on the TSX, and such statements are based upon the expectations of management.
SOURCE: Strongco Corporation
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