Finning International Inc. engages in the sales, service, and rental of Caterpillar heavy equipment and engines in Canada, South America, and the United Kingdom. Products and Services The company's dealership operations in Canada, South America, and U.K. offer products and services through five principal lines of business: New mobile equipment sales, customer support services, equipment rental, new power and energy systems sales, and used equipment sales. Its principal line of business is equipment rental. New Mobile Equipment The company distributes Caterpillar products, including tractors, loaders, log loaders, tree harvesters, skidders, off-highway trucks, backhoe loaders, excavators, articulated trucks, motor graders, paving products, compactors, wheel tractor-scrapers and pipe layers. Customer Support Services The company provides replacement parts and repair services for the products it sells. These solutions are often provided under long-term contracts entered into at the time the equipment is sold. The company maintains parts inventory at approximately 100 locations in Western Canada, South America, and the U.K to provide customers with convenient access to a supply of parts. In addition to the in-shop capability at Finning locations, Finning provides service at customer locations with specialized personnel and equipment. Finning offers its customers maintenance and repair contracts for preventive maintenance, planned component replacement and guaranteed cost per hour contracts. Equipment Rental Finning owns fleets of equipment for short-term rental (Hewden and Cat Rental Stores) and long term rental to meet customer needs. Finning also offers equipment under a Rental Purchase Option (RPO). These are term rental agreements with customers that include an option to purchase the equipment. Canada: maintains a rental fleet consisting of Caterpillar earthmoving equipment primarily for the construction industry. Also included in the fleet are power systems for electrical generation. Finning (Canada) also provides a line of products from hand tools to smaller Caterpillar products through its network of 37 Cat Rental Store locations. South America: maintains a rental fleet consisting of mining vehicles, motor graders, compactors, excavators, backhoe loaders, tractors, compressors, power generators, lift and light towers. The rental business mainly serves customers in the construction and mining industries. The South American operations also offer the smaller Caterpillar products through their twelve Cat Rental Stores. The U.K. Group: The U.K. Dealership: maintains fleets of rental equipment mainly consisting of backhoe loaders, hydraulic excavators, articulated and rigid dump trucks. Customers served include construction and mining companies. Hewden: has various rental equipment locations in the U.K. (130 depots in 97 locations) Hewden provides a product line of smaller Caterpillar products complemented by non-Caterpillar products including powered access, mobile cranes, modular accommodation, power and other construction products. New Power and Energy Finning’s Power Systems division sells products and systems for use in electric power generation, oil and gas, marine, on-highway trucking and industrial applications. The company distributes other Caterpillar brands, including engines branded as MaK and Perkins. In South America, Caterpillar generators branded as F.G. Wilson are also distributed. Finning also uses components manufactured by Caterpillar and its subsidiaries in customized solutions to meet the special requirements of its customers and to pursue new market opportunities. Used Equipment In addition to sales of new equipment, Finning buys and sells used equipment domestically and internationally. Machines are accepted in trade, received from the rental fleet, returned from lease and purchased from customers and others on the open market. Most of this equipment is reconditioned in Finning’s service shops and resold under a short-term warranty program. Finning also purchases and sells entire fleets of used equipment and sells used equipment on consignment. Other Products and Services Other products and services include providing financing and operating leases to customers and providing insurance coverage. In previous years, Finning (Canada) extended financing to its customers through leases and select conditional sales contracts. Finning (Canada) operates a licensed insurance agency, with licensed brokers located in Surrey and Williams Lake, British Columbia and Edmonton, Alberta to provide various commercial insurance products to its customers. Types of insurance offered include but are not limited to the following: Physical Damage Insurance for equipment, Commercial General Liability Insurance, Cargo Insurance, Auto Fleet Insurance (Alberta), Construction Bonding, and Marine. Customer financing of equipment from Finning (U.K.) is provided by Caterpillar Financial Services (U.K.) Limited and other external finance companies. In South America, the majority of the equipment financing is provided by Caterpillar Leasing Company, although external finance companies, mainly local banks, also provide financing to customers. MARKETS Finning serves customers operating in a range of end markets, including those involved in mining and quarrying, construction (including pipeline and oil field development), forestry, power generation, and agriculture. Customers include private enterprise and government. Acquisitions In 2008, the company’s Canadian operation, Finning (Canada), acquired Collicutt Energy Services Ltd. (Collicutt), a Canadian oilfield service company. In 2008, the company acquired the assets and business operations of Fort Saskatchewan Rentals Inc., an equipment rental company based in Saskatchewan, Canada. History Finning International Inc. was founded in 1933.
finning international inc
(FTT:Toronto Stock Exchange)
666 Burrard Street
Vancouver, BC V6C 2X8
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