Finning International Inc.

Finning International Inc.

January 18, 2007 07:45 ET

Finning Announces C$230 Million Equipment and Product Support Contract With Syncrude for Twenty 797 Trucks

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 18, 2007) - Finning International Inc. (Finning) (TSX:FTT) announced today that its Canadian division, Finning (Canada), has received an order from Syncrude Canada Ltd. to purchase an equipment and product support services package worth approximately C$230 million.

The transaction includes 20 Cat 797B off-highway trucks that will be delivered during 2009 and a multi-year product support agreement. The product support agreement covers specified parts, components and product support associated with this equipment. Syncrude's equipment maintenance personnel will service and maintain this equipment. The trucks are being purchased to support Syncrude's oil sands mining operations near Fort McMurray in Alberta.

"The Alberta oil sands region continues to be the source of tremendous growth opportunities for Finning," said Doug Whitehead, President and CEO of Finning International. "We have an extensive service infrastructure in place in this region to support large Caterpillar equipment and we believe we are well positioned to continue to benefit from the very large amount of additional investment planned for the oil sands over the next decade."

"We are very pleased to be able to continue to supply this important customer with equipment and product support as they continue to grow their production. Our product support teams continue to work very closely and successfully with Syncrude to achieve maximum machine availability for this equipment in the field," said Ian Reid, President of Finning (Canada).

Finning International Inc. is one of the world's largest Caterpillar equipment dealers. The Company sells, rents, finances and provides customer support services for Caterpillar equipment and engines in Western Canada, the U.K., and South America (Argentina, Bolivia, Chile and Uruguay). Finning also owns Hewden, the largest equipment rental business in the U.K. Headquartered in Vancouver, British Columbia, Canada, Finning International Inc. is a widely held, publicly traded corporation, listed on the Toronto Stock Exchange (symbol FTT).

This release may contain forward-looking statements and information, which reflect the current view of Finning International Inc. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and Finning's actual results of operations could differ materially from historical results or current expectations. Finning assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein do not materialize.

Refer to Finning's annual report, management information circular, annual information form and other filings with the Ontario Securities Commission and Toronto Stock Exchange for further information on risks and uncertainties that could cause actual results to differ materially from forward-looking statements contained in this report.

Contact Information