Toromont Wins Mandate to Serve De Beers' First Ontario Diamond Mine.TORONTO -- Toromont Industries Limited (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :TIH TIH Toxic Inhalation Hazard TIH This is Hell! (radio show) TIH Taken in Hand (human relationship) TIH Trip in Hole (oil/gas drilling/geology) TIH Transport Information Highway ) announced today that its Toromont CAT division has been selected to supply the equipment and power systems needs of the De Beers Canada Victor Project in northeastern Ontario Northeastern Ontario is the region within the Canadian province of Ontario which lies north and east of Lakes Superior and Huron. Northeastern Ontario consists of Algoma District, Sudbury District, Cochrane District, Timiskaming District, Nipissing District, Manitoulin - the province's first diamond mine. "After thoroughly reviewing our competitive choices, we decided Toromont was the best choice based on their ability to serve the unique requirements of northern mining and their commitment to the people of northern Ontario," said Tony George, Mine Manager. As part of the multi-year agreement, Toromont is providing six high efficiency, low emission 1.3 megawatt Arctic-grade power modules, 18 Caterpillar machines to be tasked for mine excavation and road maintenance, and smaller tools for construction. The total value of this order is approximately Cdn$19 million, with equipment valued at just over $6 million slated for delivery in 2006 and the balance scheduled for delivery through to early in 2008. Product support will be provided on all power and mobile equipment. Further, an on-site parts and service depot is expected to open in 2007. "The Victor Project puts Ontario on the map globally as a producer of high quality diamonds and we are extremely proud to play a technical role in its development," said Hugo Sorensen, President and Chief Executive Officer. Toromont Industries Ltd. 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 North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. leader specializing in the design, engineering, fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. and installation of compression systems for natural gas, fuel gas and carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. in addition to process systems and industrial and recreational refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. systems. Both groups offer comprehensive product support capabilities. Toromont employs approximately 4,400 people in more than 115 locations. This press release and more information about Toromont Industries can be found on the Web at www.toromont.com. Toromont Industries Ltd. (TSX:TIH) |
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