Toromont Industries Ltd. – Normal Course Issuer Bidadmin
Thursday, August 28th 2008
Toromont Industries Ltd. announced today that it has filed with the Toronto Stock Exchange a notice of intention to make a normal course issuer bid for certain of its common shares through the facilities of the Toronto Stock Exchange. Under this notice, Toromont is entitled to purchase up to 4,638,854, representing 10% of its common shares in the public float during the 12-month period commencing August 31, 2008 and ending August 30, 2009. Toromont currently has 46,388,538 common shares in the public float. The actual number of shares which may be purchased and the timing of any such purchases will be determined by Toromont. All shares purchased under this issuer bid will be cancelled.
Toromont believes that from time-to-time the purchase of its common shares at prevailing market prices may be a worthwhile investment and in the best interests of both Toromont and its shareholders. During the past 12 months, there were no common shares purchased for cancellation by Toromont.
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 leader specializing in the design, engineering, fabrication, and installation of compression systems for natural gas, coal bed methane, 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 4,500 people in more than 130 locations. This press release and more information about Toromont Industries can be found on the web at www.toromont.com.