Finning International Inc.
TSX : FTT

Finning International Inc.

June 27, 2005 09:30 ET

Finning Announces C$115 Million Equipment and Product Support Contract with Suncor

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 27, 2005) - Finning International Inc. (Finning) (TSX:FTT) announced today that its Canadian division, Finning (Canada), has received an order from Suncor Energy Inc. to purchase an equipment and product support services package worth approximately C$115 million. Approximately 20% of this amount relates to the renewal of an earlier product support services agreement.

The transaction includes nine Cat 797B off-highway trucks that will be delivered over the next 12 months, a 10-year product support agreement and an option on six additional 797B trucks. The transaction represents the first Cat B-series trucks to be added to Suncor's haul truck fleet. The trucks are being purchased to support Suncor's oil sands mining operations near Fort McMurray.

"With production from the Athabasca oil sands continuing to increase, we are well positioned in Canada to provide excellent service to our large mining customer base," noted Doug Whitehead, president and CEO of Finning. "We continue to benefit from new equipment orders as new investment is attracted to the oil sands."

"We are pleased to work with Suncor as it continues to expand. Leading-edge Caterpillar technology in the form of the 797 truck and the experience of our product support teams are helping our oil sands customers achieve significant efficiency gains during this time of unprecedented growth," 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 Europe. Headquartered in Vancouver, British Columbia, Canada, Finning International Inc. is a widely held, publicly traded corporation, listed on the Toronto Stock Exchange (symbol FTT). For additional information please visit our website at www.finning.com.

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