Strongco plans Fort McMurray branch
By Strongco CorporationNews
March 12, 2012 - Strongco Corporation has announced it has entered into a contract to purchase six acres of land in Fort McMurray,
Alta., to build a new branch to further expand its presence in the northern part of the province. Construction is planned to begin on a 23,000-square-foot facility in August 2012, with completion expected in February 2013. Finalization of the land purchase is subject to normal due diligence. The new facility will carry the full line of products from Volvo Construction Equipment and complementary brands as well as Manitowoc, National and Grove crane products.
“This is the second step of our strategy to strengthen Strongco’s presence in Alberta and to position the company to build market share in the oil and gas sector,” said Bob Dryburgh, president and CEO of Strongco. The first step was construction of a new branch in Edmonton, announced in 2011. Strongco will relocate its regional Volvo operations into that new facility this month and begin the upgrade of the existing Edmonton crane facility.
“The continuing strength of this market, combined with major capital commitments for further expansion of the energy sector, give us the confidence to put in place the infrastructure to support our planned growth in this region,” Dryburgh added.
The new Fort McMurray branch will involve a total capital cost of $16.5 million, most of which will be financed through a mortgage facility arranged with Strongco’s current bank.
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