Finning International Inc.
TSX : FTT

Finning International Inc.

August 08, 2005 14:42 ET

Finning Announces C$28 Million Power Generation Contract in the U.K.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 8, 2005) - Finning International Inc. ("Finning") (TSX:FTT) announced today that its UK Power Systems division has secured a turnkey design and construct contract for five mine gas fired electric power generation stations for Greenpark Energy, a developer of power projects in the United Kingdom. The project is to be financed by Caterpillar Power Finance and fully leverages all of Finning and Caterpillar's capabilities including the use of G3520C generator sets, a product jointly developed by Caterpillar and Finning.

The sites will be fuelled with methane gas being collected from disused coal mines and will generate 24 MW of electricity on a continuous basis, sufficient for more than 50,000 domestic dwellings. The equipment supply contract for the five sites is worth approximately C$28 million. In addition to the equipment supply contract, the agreement includes a seven-year operation and maintenance contract as a fully managed service. Equipment deliveries and installation will begin in Q4 2005 and continue to early 2006.

Doug Whitehead, President and CEO of Finning said: "This contract is another example of Finning's creative approach to providing total solutions to customers."

Steve Mallett, President, Power Systems for Finning International Inc. noted: "This agreement with Greenpark Energy leverages Finning's years of experience in the gas fuelled power generation market in the U.K. into a total solution for our customer in a potentially exciting new market segment."

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