Toromont Industries Ltd.
TSX : TIH

Toromont Industries Ltd.

September 16, 2010 13:05 ET

Toromont Announces Significant Equipment Contract With Detour Gold Corporation

TORONTO, ONTARIO--(Marketwire - Sept. 16, 2010) - Toromont CAT, a division of Toromont Industries Ltd., (TSX:TIH) has been selected by Detour Gold Corporation to supply the production fleet of mining trucks and support equipment for the Detour Lake Project in Northern Ontario.

The initial fleet of 18 CAT 795F AC mining trucks is scheduled for delivery from Q4 of 2011 through 2012. The agreement also includes mine support equipment with an initial order of an estimated 15 units to be placed prior to the end of 2010, also to be delivered in 2011 and 2012. The total value of the mining trucks and support equipment to be ordered in 2010 is approximately Cdn $125 million.

"We are honoured and delighted to be given the opportunity to support the Detour Lake Project," said Robert M. Ogilvie, Chairman and Chief Executive Officer of Toromont Industries Limited. "We thank Detour Gold Corporation for their confidence in Toromont CAT and Caterpillar."

About Toromont

Toromont Industries Ltd. operates through two business segments: the Equipment Group and the Compression Group. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory in addition to industry leading rental operations. The Compression Group is a Global leader specializing in the design, engineering, fabrication and installation of compression systems for natural gas, coal-bed methane, fuel gas and carbon dioxide in addition to process systems and industrial and recreational refrigeration systems. Both Groups offer comprehensive product support capabilities. This press release and more information about Toromont can be found on the web at www.toromont.com.

Contact Information

  • Toromont Industries Ltd.
    Paul R. Jewer
    Vice President Finance and Chief Financial Officer
    (416) 667-5638