Finning International Inc. has reached an agreement to acquire 100 percent of 4Refuel Canada and 4Refuel US for approximately $260 million. In 2018, 4Refuel is expected to generate net revenue of approximately $110 million and EBITDA of $33.5 million. Greater than 95 percent of 4Refuel's profitability is generated in Canada.
Finning International Inc.
|Address||16830 - 107 Avenue, Edmonton, AB, T5P 4C3, CA|
The legacy of the Cat large dozer began a little more than 40 years ago with a revolutionary elevated drive sprocket and new undercarriage design that looked unlike any dozer of its day. The groundbreaking suspended undercarriage with high drive design conformed to the ground better than standard oval tracks, helping to improve machine traction, extend undercarriage life and enhance operator comfort.
Finning Canada, a division of Finning International Inc., has signed an agreement to become the first Cat dealer in Canada to exclusively sell and provide parts and service for the NorAm 65E motor grader with a Cat engine. NorAm is currently distributed through 45 dealers in North America and Australia.
Finning International Inc. announced that Juan Carlos Villegas, President of Finning Canada and Chief Operating Officer of Finning International, will retire on December 31, 2018 following a distinguished career with the company. Kevin Parkes, currently Managing Director of Finning UK and Ireland, will assume the role of President of Finning Canada. Assuming the role of Managing Director of Finning UK and Ireland will be David Primrose, currently Finning Canada's Executive Vice President of Core Industries. Kevin and David will assume their positions on January 1, 2019 and will report to Finning International's President and Chief Executive Officer, Scott Thomson.
Finning Canada, a division of Finning International Inc., has signed an agreement to become the exclusive dealer of MultiDocker in western Canada. MultiDocker manufactures hydraulic material handlers for the forestry, scrap recycling and bulk handling industries.
Finning International has reported a solid second quarter of 2017, including a revenue increase of 21 percent from the same period a year previous and improved markets in Canada and other parts of Finning's business.
Finning International Inc. has announced that as part of ongoing board renewal Mr. Doug Whitehead will step down as Chairman of the Board at the Company's Annual General Meeting (AGM) on May 4, 2016. Mr. Whitehead, who has been Chairman of the Board since 2008 and a member of the Board since 1999, will remain on the Board of Directors, subject to his re-election to the Board at the AGM. Mr. Mike Wilson will succeed Mr. Whitehead as Chairman of the Board of Directors on May 4, 2016, also subject to his re-election to the Board. Mr. Wilson joined Finning's Board of Directors in January 2013 bringing decades of executive leadership experience, most recently as CEO of Agrium.
IronPlanet and Finning International Inc. have announced that Finning has agreed to jointly market used heavy equipment through Cat Auction Services, IronPlanet’s unreserved auction marketplace. Finning will be hosting IronPlanet’s first Canadian Cat Auction Services live unreserved public auction on Wednesday, October 21, 2015, in Edmonton, Alberta.