Finning International Inc. (TSX:FTT) reported that its Canadian division has been awarded a renewal of its current lease agreement with Teck Coal Limited.
The press release is quoted as saying:
Under the current lease agreement with Finning, Teck operates approximately 50 large dozers which are employed at six mines in B.C. and Alberta. As part of the lease renewal, Finning expects to replace 30 of the 50 machines currently operating. Approximately, 18 large dozers will be new and 12 will be rebuild units. The equipment leased is valued at approximately C$36 million.
