Finning International Inc.
TSX : FTT

Finning International Inc.

December 12, 2006 08:00 ET

Finning Announces Sale of C$24 Million of Mining Equipment to Silver Standard's Pirquitas Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 12, 2006) - Finning International Inc. ("Finning") (TSX:FTT) today announced that its South American mining division has negotiated the sale of a package of mining equipment that will operate in the Pirquitas Mine, located in northwestern Argentina, a wholly-owned project of Silver Standard Resources Inc.

The transaction includes one O&K RH90 hydraulic shovel as well as a fleet of 7 Caterpillar 777 haul trucks and 10 pieces of support equipment. Finning is currently negotiating the terms of a multi-year maintenance and repair contract to support these and future units at the Pirquitas Mine. The value of the service agreement is expected to be in the range of approximately $70 million. Delivery of the equipment is expected to occur in 2007.

"We are very pleased to be able to add the Pirquitas Mine to our group of mining customers," said Juan Carlos Villegas, President of Finning South America, "this new project adds to the list of mines in Argentina for whom we provide equipment and service."

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). 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