Finning lands Chilean contracts worth $500 million

Vancouver-based Caterpillar equipment dealer Finning International Inc. (TSX:FTT) announced today that it has won three large contracts to provide equipment and maintenance services to Chilean ...

Vancouver-based Caterpillar equipment dealer Finning International Inc. (TSX:FTT) announced today that it has won three large contracts to provide equipment and maintenance services to Chilean mining companies.

Finning said the combined value of the contracts is US$497 million, with US$247 million in new equipment and US$250 million in maintenance services.

"We are extremely pleased to secure these significant mining contracts, which will help drive our continued growth in the near and distant future," said Marcello Marchese, president of Finning South America.

The contracts include:

  • a US$130 million equipment sale and a letter of intent for a five-year maintenance contract, valued at US$120 million, by CAP Minería for the company's El Romerai iron ore mine;
  • an eight-year maintenance services contract valued at US$130 million with Codelco for the company's El Teniente division's Rajo Sur mine plus a US$55 millon equipment sale; and
  • a contract valued at US$62 million from an undisclosed large mining company to provide mobile equipment to one of its Chilean mines.

jwagler@biv.com

@JennyWagler_BIV

comments powered by Disqus

More from Mining & Energy

Goldcorp moves into Yukon with Kaminak Gold acquisition

Kaminak Gold acquired in $520 million all share deal

Read Article

BIV on Global BC July 20, 2016: LNG exports setback, B.C. consumer ...

Read Article

Enbridge to pay $61 million fine for 2010 Michigan oil spills

Payment is part of $177 million settlement for Kalamazoo River spill

Read Article

FortisBC to lose LNG contract with Hawaii

Rejected merger of two power companies means FortisBC to lose 20-year contract

Read Article

Lucara Diamond Corp. announces special 13% dividend

Company still trying to sell the second-largest diamond ever found

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
×