Enerflex Systems Income Fund

Enerflex Systems Income Fund

October 19, 2009 09:09 ET

Enerflex Announces Formation of Special Committee

CALGARY, ALBERTA--(Marketwire - Oct. 19, 2009) - Enerflex Systems Income Fund (TSX:EFX.UN) announced today that a special committee of independent directors of the administrator of the Fund has been formed and consists of Douglas J. Haughey, Robert B. Hodgins and Patrick D. Daniel. The committee was formed to, among other things, consider and respond to a letter from Toromont Industries Ltd. regarding Toromont's desire to negotiate a proposed business combination with Enerflex. The Toromont letter was also set out in a press release issued by Toromont on October 16, 2009. Enerflex takes issue with Toromont's characterization of past events in the letter and press release. No formal offer or binding business combination has yet been presented to Enerflex or its unitholders. Without approving or agreeing to further negotiations, Enerflex has requested further details from Toromont regarding the terms of Toromont's proposal so that the committee may properly consider the proposal.

Unitholders are cautioned that there can be no assurance that an agreement with respect to a business combination or other form of transaction will be reached.

Headquartered in Calgary, Canada, Enerflex has approximately 2,600 employees. Enerflex, its subsidiaries, interests in affiliates and joint-ventures operate in Canada, Australia, the Netherlands, the United States, Germany, Pakistan, the United Arab Emirates, Egypt, Indonesia and Malaysia. Enerflex's trust units trade on the Toronto Stock Exchange under the symbol "EFX.UN".

Contact Information

  • J. Blair Goertzen
    President & Chief Executive Officer
    403.720.4385 (FAX)
    D. James Harbilas
    Vice-President & Chief Financial Officer
    403.720.4385 (FAX)