Finning Partners with Syncrude on C$130 Million Contract

Vancouver, British Columbia-based Finning International announced last week that its Canadian division, Finning (Canada), has secured a C$130 million equipment and parts/components contract with Syncrude Canada.

The contract includes the sale of 11 Caterpillar 797B off-highway trucks and a 9-year parts and components agreement. In addition to the truck fleet, Finning will deliver a number of pieces of Caterpillar mining support equipment including: graders, tailings tractors, dozers, a pipelayer and a compactor. The cost of the total equipment package is about C$70 million. The value of the parts and components agreement is in excess of C$60 million. The new equipment will be used to support Syncrude's oil sands expansion plans in Fort McMurray.

Doug Whitehead, president and CEO of Finning said, "The oil sands continue to represent a tremendous growth opportunity for Finning. This transaction further demonstrates Finning's commitment to expanding its presence in this important market."

Finning is No. 16 on the RER 100.