CERF announces corporate name change
By Canadian Equipment RentalsNews
Aug. 23, 2016 - CERF Incorporated has announced that at the Annual and Special Meeting of the shareholders of the Company held on June 22, 2016, the proposed name change of the Company to Canadian Equipment Rentals Corp. was approved.
This name change reflects the rebranding efforts recently initiated by management and the corporate strategy approved by the Board of Directors, which has the Company expanding its rental offerings into new market segments including large industrial projects. This strategy will create more market diversification for the Company and generate synergies between the various operating divisions of the Company.
The Company also announces that in the second quarter of 2016, it has successfully sold various pieces of under-utilized rental equipment from both its Energy Services and General Rentals divisions for proceeds of approximately $3.2 million. These funds will be used to pay down debt and for general corporate purposes.
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