McCoy Corporation

McCoy Corporation

July 04, 2011 08:00 ET

McCoy Continues to Strengthen Global Energy Focus With Divestiture of Vac and Hydrovac Business

EDMONTON, ALBERTA--(Marketwire - July 4, 2011) - McCoy Corporation ("McCoy" or "the Corporation") (TSX:MCB) has sold its wholly-owned subsidiary, Rebel Metal Fabricators Ltd. ("Rebel"), to another party based in Alberta that has extensive experience in the vac and hydrovac industry. The share purchase transaction closed and was effective June 30, 2011. Although the sale of Rebel does not materially impact McCoy's financial and operating results, it is another important step in focusing the Corporation on providing products and services to the global energy industry.

Rebel was part of the Corporation's Mobile Solutions segment and made up the Vac & Hydrovac division. Rebel manufactures and supplies vac and hydrovac systems to customers operating mainly in Western Canada and is located in Red Deer, Alberta.

"The divestiture strengthens McCoy's focus on its most profitable businesses, mainly McCoy Trailers and McCoy's Energy Products & Services segment," says President & CEO, Jim Rakievich. "Similar to the divestiture of McCoy's Parts & Service division earlier this year, this sale will allow us to focus on global expansion in the energy industry."

About McCoy

McCoy provides innovative products and services to the global energy industry. McCoy's two segments, Energy Products & Services and Mobile Solutions, operate internationally through direct sales and distributors with its operations based out of the Western Canadian Sedimentary Basin and the US Gulf Coast. McCoy's corporate office is located in Edmonton, Alberta, Canada with offices in Alberta, British Columbia, Louisiana, and Texas.

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This news release and the website referenced therein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause McCoy's actual results and experience to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on forward-looking information that may be contained herein, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. McCoy undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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