Strongco Corporation

Strongco Corporation

March 29, 2011 17:08 ET

Strongco Announces Appointment of New Director

MISSISSAUGA, ONTARIO--(Marketwire - March 29, 2011) - Strongco Corporation (TSX:SQP) today announced the appointment of Colin Osborne to the Board of Directors.

"Colin brings to our board extensive experience in construction markets across Canada and the U.S.," said Robert Beutel, Chairman of the Board of Strongco. "In addition, his role as Chief Executive Officer of a similar sized Canadian public company provides a complementary skill set."

Mr. Osborne is President and Chief Executive Officer of Vicwest Inc., a TSX listed company with $350 million in annual revenues. Vicwest is a leading manufacturer and distributor of building construction and steel containment products for grain, fertilizer and liquid storage.

Prior to joining Vicwest, Mr. Osborne provided consulting services to a variety of private equity, investment banking, manufacturing and engineering businesses, with an emphasis on mergers and acquisitions. He has extensive capital market experience and has assisted in the raising of over $200 million of equity in North America and Europe.

Mr. Osborne has 20 years of experience in the manufacturing industry, most of it in senior operating and general management positions at the former Stelco Inc., including acting as Chief Operating Officer during one of Canada's largest corporate restructurings.

Mr. Osborne has extensive past board experience in both public and private sectors. In addition to his current board membership at Vicwest, he is a director of Tube City IMS (a portfolio company of Onex Corporation) and a director of McMaster Innovation Park.

Mr. Osborne is a professional engineer with a Bachelor of Engineering degree from McGill University and has completed the Executive Program at the Queen's University School of Business.

About Strongco

Strongco Corporation is one of Canada's largest multiline mobile equipment dealers and operates in the northeastern U.S. through Chadwick-BaRoss, Inc. Strongco sells, rents and services equipment used in sectors such as construction, infrastructure, mining, oil and gas, utilities, municipalities, waste management and forestry. Strongco has approximately 600 employees servicing customers from 24 branches in Canada and five in the U.S. Strongco represents leading equipment manufacturers with globally recognized brands, including Volvo Construction Equipment, Case Construction, Manitowoc Crane, Terex Cedarapids, Ponsse, Powerscreen, Skyjack, Fassi, Allied, Taylor, ESCO, Dressta, Sennebogen, Takeuchi, Link-Belt and Kawasaki. Strongco is listed on the Toronto Stock Exchange under the symbol SQP.

Forward-Looking Statements

This news release may contain "forward-looking" statements within the meaning of applicable securities legislation which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Strongco or industry results, to be materially different from any future results, events, expectations, performance or achievements expressed or implied by such forward-looking statements. All such forward-looking statements are made pursuant to the "safe harbour" provisions of applicable Canadian securities legislation. Forward-looking statements typically contain words or phrases such as "may", "outlook", "objective", "intend", "estimate", "anticipate", "should", "could", "would", "will", "expect", "believe", "plan" and other similar terminology suggesting future outcomes or events.

Forward-looking statements involve numerous assumptions and should not be read as guarantees of future performance or results. Such statements will not necessarily be accurate indications of whether or not such future performance or results will be achieved. You should not unduly rely on forward-looking statements as a number of factors, many of which are beyond the control of Strongco, could cause actual performance or results to differ materially from the performance or results discussed in the forward-looking statements, including, inability to obtain requisite approvals; general economic conditions; business cyclicality, relationships with manufacturers; access to products; competition with existing business; reliance on key personnel; litigation and product liability claims; inventory obsolescence; sufficiency of credit availability; credit risks of customers; warranty claims; technology interpretations; and labour relations. Although the forward-looking statements contained in this news release are based upon what management of Strongco believes are reasonable assumptions, Strongco cannot assure investors that actual performance or results will be consistent with these forward-looking statements. These statements reflect current expectations regarding future events and operating performance and are based on information currently available to Strongco's management. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. All forward-looking statements in this news release are qualified by these cautionary statements. These forward-looking statements and outlook are made as of the date of this news release and, except as required by applicable law, Strongco assumes no obligation to update or revise them to reflect new events or circumstances.

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