VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 2, 2006) - Finning International Inc. ("Finning") (TSX:FTT) announced today that its South American division has secured a sale of 18 new and 2 used Caterpillar 797B mining trucks to Minera Escondida. This transaction is structured under a long-term strategic alliance between BHP Billiton and Caterpillar.
The trucks will go into service at Minera Escondida, the largest copper mine in the world, located in the Atacama Desert, 170 km southeast of Antofagasta, Chile. The new trucks will be delivered starting August 2006, with all trucks in operation by the end of 2007.
"This transaction is governed by the framework of the global agreement between BHP Billiton and Caterpillar," said Doug Whitehead, President and CEO of Finning International. "As Caterpillar's key business partner and a market leader in the mining equipment industry in South America, Finning continues to benefit from the increasing demand for equipment by the South American mining companies."
Brian Bell, President of Finning South America, noted: "The sale further consolidates our strong position with this major customer and will increase the total number of 797 mining trucks in service at Escondida to 58 units."
Finning International Inc. is the world's largest Caterpillar equipment dealer. 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 Europe. 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)