MISSISSAUGA, ONTARIO--(Marketwire - Feb. 25, 2013) -Strongco Corporation (TSX:SQP) is pleased to announce it has completed the purchase of eight acres of land that will be used to build its new branch in Saint-Augustin-de-Desmaures, Quebec to improve our presence in the Quebec City region.
The new branch will replace the existing Sainte-Foy location and will carry Volvo Construction Equipment products, as well as other complementary brands. Construction on the 40,500 square foot facility is scheduled to begin in the spring and is slated for completion in early 2014.
"This new branch will build on the longstanding excellent relationships with our customers in the area. Replacing our Sainte-Foy location with an updated and well-situated branch in Saint-Augustin allows us to provide more comprehensive and timely service to our customers," said Bob Dryburgh, President and Chief Executive Officer of Strongco. "This new development is an integral part of Strongco's growth strategy to increase our market presence in key markets, such as Quebec by building on Strongco's reputation of delivering a superior customer experience."
The new Saint-Augustin branch will involve a total capital cost of $8.6 million.
About Strongco Corporation
Strongco Corporation is one of Canada's largest multiline mobile equipment dealers and operates in the northeastern United States through Chadwick-BaRoss, Inc. Strongco sells, rents and services equipment used in sectors such as construction, infrastructure, mining, oil and gas, utilities, municipalities, waste management and forestry. Strongco has approximately 640 employees serving customers from 26 branches in Canada and five in the United States. Strongco represents leading equipment manufacturers with globally recognized brands, including Volvo Construction Equipment, Case Construction, Manitowoc Crane, National, Grove, Terex Cedarapids, Terex Finlay, Ponsse, Fassi, Allied Construction, Taylor, ESCO, Dressta, Sennebogen, Jekko, Takeuchi, Link-Belt and Kawasaki. Strongco is listed on the Toronto Stock Exchange under the symbol SQP.
This news release contains "forward-looking" statements within the meaning of applicable securities legislation which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Strongco or industry results, to be materially different from any future results, events, expectations, performance or achievements expressed or implied by such forward-looking statements. All such forward-looking statements are made pursuant to the "safe harbour" provisions of applicable Canadian securities legislation. Forward-looking statements typically contain words or phrases such as "may", "outlook", "objective", "intend", "estimate", "anticipate", "should", "could", "would", "will", "expect", "believe", "plan" and other similar terminology suggesting future outcomes or events.