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."
About Finning
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.