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Nov 02, 2004

   

Industry News

Toromont to Expand Ontario Rental Operations

2  MIN READ

Toronto, Ontario (November 2, 2004) – Battlefield Equipment Rentals, a division of Toromont Industries Ltd. (TSX: TIH), announced today the expansion of rental operations to Barrie and Sudbury, Ontario, Canada.
Battlefield is purchasing a 4-acre site in Barrie, Ontario and expects to complete construction of a new facility in mid-2005.

Battlefield has also agreed to acquire the shares of Access Rentals and Supply Limited, a privately owned company based in Sudbury, Ontario. Randall B. Casson, President of Battlefield Equipment Rentals, noted “Access is a leading rental operator with complementary product lines and a wide variety of customers in both the construction and industrial sectors. This acquisition will provide us with strong representation in Northern Ontario.” Tom DiFrancesco, currently the owner of Access, will continue in the business as Battlefield’s Regional Manager once the purchase is complete. Completion of due diligence and closing of the transaction is expected in the fourth quarter.

With these additions, Battlefield will have 32 locations throughout Ontario, Manitoba and Newfoundland.

Toromont Industries Ltd. (TSX: TIH) operates through two business segments: The Equipment Group and the Compression Group. The Equipment Group includes one of the world’s largest Caterpillar dealerships by revenue and geographic territory in addition to industry leading rental operations. The Compression Group is a North American leader specializing in the design, engineering, fabrication, and installation of compression systems for natural gas, fuel gas and carbon dioxide in addition to process systems and industrial and recreational refrigeration systems. Both groups offer comprehensive product support capabilities. Toromont employs approximately 4,000 people in more than 100 locations. This press release and more information about Toromont Industries can be found on the Web at www.toromont.com.
For more information contact:
Hugo T. Sørensen
President and Chief Executive Officer
Toromont Industries Ltd.
T: (416) 667-5527

Randall B. Casson
President
Battlefield Equipment Rentals
T: (905) 577-7777

Wayne S. Hill
Vice President, Finance and Chief Financial Officer
Toromont Industries Ltd.
T: (416) 667-5776