Industry News - August, 2021 - Page 8 of 13

Cervus Equipment Corporation Agrees To Be Acquired By Brandt Tractor Ltd.

Cervus Equipment Corporation (“Cervus” or the “Company”) (TSX: CERV) today announced that it has entered into an arrangement agreement (the “Arrangement Agreement”) pursuant to which Brandt Tractor Ltd. (“Brandt”) will acquire all of the issued and outstanding common shares of the Company, excluding those held by Brandt, for $19.50 per share in cash (the “Consideration”), valuing Cervus at approximately $302 million on an equity value basis (the “Transaction”). The Consideration represents a 37% premium to the 20-day volume-weighted average price of the Company’s shares on the Toronto Stock Exchange for the period ending August 13, 2021.

Angela Lekatsas, President and Chief Executive Officer of Cervus, said, “This Transaction delivers tremendous value for our shareholders and clearly demonstrates the successful execution of our strategy. As a private company with a committed, well-capitalized and long-term owner, Cervus will be better positioned for the next stage of evolutionary growth for our dealerships. The size and scale of the entity created by the combination of our two companies will allow for increased investment into Cervus for the benefit of our employees and customers”.

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Aug 16, 2021 - 4 years ago
Hitachi Rolls Out Grade Control Technology Options For Select Excavators

Hitachi Construction & Mining Division, an operating division of John Deere Construction & Forestry Company (“Hitachi”), has rolled out options for its grade control technology, on select excavators, including 2D Grade Control and Solution Linkage 3D Grade Control, which allow an operator to set a grade and hold it.

With Hitachi Solution Linkage 3D Grade Control, the machine controls the boom and bucket as the operator handles the arm.

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Aug 16, 2021 - 4 years ago
Coal Exploration Halted On Alberta’s Category 2 Lands

In response to concerns raised by Albertans, including those who participated in a recent online survey, Alberta’s government is immediately halting all coal exploration projects in Category 2 lands.

Thermal coal from Genesee Mine, located west of Edmonton and operated by Westmoreland Coal Company. Photo courtesy Coal Association of Canada.

Almost 25,000 Albertans from across the province shared feedback to help inform the next steps of the coal policy engagement through an online survey from March 29 to April 19.

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Aug 16, 2021 - 4 years ago
Port Saint John Supports Seafarers Critical Communication Needs With Pier-Side WIFI

The COVID-19 pandemic has intensified the already extremely isolated life of seafarers. Recently Port Saint John stepped forward to assist seafarers in this unprecedented time of crisis by investing in pier-side WiFi at the West Side terminals.

In the early months of the pandemic, face-to-face services that seafarers around the world rely upon were suspended, and unfortunately this included Saint John Seafarers’ Mission. As the pandemic wore on a global issue around seafarer repatriation began to evolve. There are estimates of tens of thousands of seafarers who have been working many months beyond their contracted times, often exceeding the maximum allowed by international maritime labour standards. When this reality was combined with no or very minimal shore leave, a situation that was unacceptable to Port Saint John and the Saint John Seafarers’ Mission arose.

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Aug 16, 2021 - 4 years ago
Machinery Supply Launches New Website

Machinery Supply, a leading heavy equipment dealership in Western Canada, has launched a new commercial website (machinerysupply.ca).

This newly redesigned website makes it quick and easy to access essential information. It features a more comprehensive view of the company’s product and service offerings across a wide range of aggregate producing functions including crushing, screening, conveying, and washing.

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Aug 16, 2021 - 4 years ago
Terex MP Acquires MDS International In Ireland

Terex Materials Processing (MP), a global leader in materials processing equipment, is pleased to announce the purchase of MDS International (MDS), a manufacturer of heavy duty and recycling trommels, apron feeders and conveyor systems, based in Co. Monaghan, Ireland.

MDS International manufactures heavy duty and recycling trommels, apron feeders and conveyor systems (pictured left), a product range that complements other Terex brands such as EvoQuip (pictured right).

MDS was founded in 1995 by Liam and Una Murray, with a vision to design and develop engineering solutions to industry. Over the past 25 years MDS has built a highly skilled work force along with global distribution partners, and has a valued reputation for innovation, offering bespoke solutions to serve client needs with equipment that can withstand the harshest of environments.

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Aug 13, 2021 - 4 years ago