VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 12, 2006) - Finning International Inc. ("Finning") (TSX:FTT) today announced that its South American mining division has received a letter of intent from Minera Escondida, a part of the BHP Billiton Group regarding the purchase of approximately 45 Caterpillar 797 mining trucks. Delivery of the trucks is expected to begin in early 2009. The transaction will be governed by the long-term strategic alliance between BHP Billiton and Caterpillar.
It is expected that the new units will be used in the existing operations at the Escondida mine, the largest copper producing mine site in the world which is located 170 km southeast of the city of Antofagasta in northern Chile. Actual delivery dates and numbers will be finalized once BHP Billiton Group completes its final fleet allocation between Escondida and its other international operations.
"The high level of activity in the mining industry continues to provide excellent opportunities for Finning to increase the size of the CAT fleet in its market areas. The growing fleet of Caterpillar equipment forms the basis for growing parts and service revenues for future years," noted Doug Whitehead, President and CEO of Finning.
"We are very pleased to be able to continue to provide equipment to the BHP Billiton group under our strategic alliance," said Juan Carlos Villegas, President of Finning South America, "we remain committed to providing superior service for our customers and meeting the equipment needs of the Chilean mining industry."
Finning International Inc. is one of the world's largest Caterpillar equipment dealers. The Company sells, rents, finances and provides customer support services for Caterpillar equipment and engines in Western Canada, the U.K., and South America (Argentina, Bolivia, Chile and Uruguay). Finning also owns Hewden, the largest equipment rental business in the U.K. Headquartered in Vancouver, British Columbia, Canada, Finning International Inc. is a widely held, publicly traded corporation, listed on the Toronto Stock Exchange (symbol FTT). For additional information please visit our website at www.finning.com.
This release may contain forward-looking statements and information, which reflect the current view of Finning International Inc. with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and Finning's actual results of operations could differ materially from historical results or current expectations. Finning assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein do not materialize.
Refer to Finning's annual report, management information circular, annual information form and other filings with the Ontario Securities Commission and Toronto Stock Exchange for further information on risks and uncertainties that could cause actual results to differ materially from forward-looking statements contained in this report.
FOR FURTHER INFORMATION PLEASE CONTACT:
Finning International Inc.
Vice President, Investor Relations
(604) 691-6440 (FAX)