Tornado Global Hydrovacs Poised to Benefit from US Infrastructure Bill
11 November 2021 - 12:00AM
Tornado Global Hydrovacs Ltd. (“Tornado” or the
“Company”) (TSX-V:TGH) The US Senate passed a $1.2 trillion USD
infrastructure bill (the “Infrastructure Bill”) in August 2021 and
the US Congress ratified the Infrastructure Bill on November 5,
2021. The Infrastructure Bill, subject to the final approval of the
US President, is expected to create legions of jobs in the US to
improve broadband, water supplies and other public works and
expected to increase the demand for hydrovac trucks.
The approval the Infrastructure Bill will
validate the bold step made by Tornado to triple its
manufacturing capacity with the purchase of a new, state
of the art, 57,000 square foot facility on 17 acres of land in
Alberta, Canada in 2020. Brett Newton, who joined Tornado in
June 2021 as President and COO, said, “This prior
investment by Tornado in additional manufacturing capacity
will greatly assist Tornado in capitalizing on the increasing
demand for hydrovac trucks, parts and services by our U.S.
dealer and customers. I am absolutely convinced that the
outlook for hydrovac demand throughout North America will remain
bullish for years to come.”
Tornado management was interviewed by Ronny
Grunwald of First Bridge Investment Group, LLC, who has been
advising and researching mid stage companies since 2010 and posted
a research report on Tornado July 30, 2021 on Seeking Alpha, the
largest investing community in the world. The research report
discusses the North American hydrovac industry and service
providers to the industry, and delves into how Tornado is uniquely
positioned to capitalize on the infrastructure bill that is
targeting investments in transportation, broadband and utilities,
which are all sectors where hydrovac trucks play a key role in safe
excavation. A copy of this report is available on the Seeking Alpha
platform.
About Tornado Global Hydrovacs
Ltd.
The Company designs and manufactures hydrovac
trucks as well as provides heavy duty truck maintenance operations
in central Alberta. It sells hydrovac trucks to excavation service
providers in the infrastructure and industrial construction and oil
and gas markets. Hydrovac trucks use high pressure water and vacuum
to safely penetrate and cut soil to expose critical infrastructure
for repair and installation without damage. Hydrovac excavation
methods are quickly becoming a standard in the North America to
safely excavate in urban areas and around critical infrastructure
greatly reducing infrastructure damage and related fatalities. In
China, the Company’s subsidiary is used principally to source
certain parts to the Company’s North America operations.
For more information about Tornado Global
Hydrovacs Ltd., visit www.tornadotrucks.com or contact:
Brett NewtonPresidentPhone: (416) 522-6390Email:
bnewton@tghl.ca
Advisory
Certain statements contained in this news
release constitute forward-looking statements. These statements
relate to future events. All statements other than statements of
historical fact are forward-looking statements. The use of the
words “anticipates”, “should”, "may”, “expected”, “expects”,
“believes” and other words of a similar nature are intended to
identify forward-looking statements. These statements involve known
and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking statements. Although Tornado
believes these statements to be reasonable, no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this news release should not
be unduly relied upon. Such statements include statements with
respect to: (i) the expectation that the Infrastructure Bill will
create legions of jobs in the US to improve broadband, water
supplies and other public works; (ii) the expectation that the
Infrastructure Bill will increase the demand for hydrovac trucks
generally; (iii) the expectation that the Infrastructure Bill will
increase the demand for hydrovac trucks, parts and services by our
U.S. dealers and customers; (iv) the expectation that Tornado will
be able to capitalize on the increasing demand for hydrovac trucks,
parts and services; and (v) the expectation that the outlook
throughout North America will remain bullish for years to come.
Actual results could differ materially from those anticipated in
these forward-looking statements as a result of prevailing economic
conditions, and other factors, many of which are beyond the control
of Tornado. The forward-looking statements contained in this news
release represent Tornado’s expectations as of the date hereof, and
are subject to change after such date. Tornado disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as may be required by applicable securities
regulations.
Neither the Exchange nor its Regulation
Service Provider (as that term is defined in policies of the
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
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