TSX Symbol: SQP
MISSISSAUGA, ON, July 16, 2014 /CNW/ - Strongco Corporation (TSX:SQP) announced today that it has entered into an agreement with Terex Trucks Ltd. to supply and support Terex-branded rigid haulers in Ontario, Quebec and Atlantic Canada.
The arrangement further extends Strongco's capabilities in the earthmoving segment, particularly for customers involved in light mining applications at a time of renewed confidence in the sector. Strongco has been granted the distribution rights to five models of rigid haulers, with proven designs and payloads ranging from 32 to 91 tons. Strongco will market and support the products to the general construction, mining, and quarries and aggregates sectors through its extensive branch network.
"The appointment of Strongco is in line with our intention of identifying gaps in Terex Trucks' distribution footprint and retaining professional, engaged and well-financed dealers," commented Vice President of business development, Kevin Joyce. "Strongco fits these strategic criteria perfectly, and considerably strengthens our ability to supply and support Terex Trucks' expanding field population in Canada."
"A key factor in our growth strategy is to build on Strongco's leading position as a construction equipment dealer representing globally recognized brands," said Bob Dryburgh, President and CEO of Strongco. "The addition of Terex Trucks' well-respected range of rigid haulers is consistent with this strategy, providing an excellent complement to our existing construction equipment offerings, and broadening the choices we offer our client base."
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, Kawasaki and Konecranes. Strongco is listed on the Toronto Stock Exchange under the symbol SQP.
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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