Finning
TypePublic (TSX: FTT)
IndustryIndustrial Equipment Wholesale
FoundedVancouver, British Columbia (1933)[1]
HeadquartersVancouver, British Columbia
Area served
Argentina
Bolivia
Canada (British Columbia, Alberta, Saskatchewan, Yukon, Northwest Territories)
Chile
Ireland
United Kingdom
Key people
Kevin Parkes, President & CEO
ProductsIndustrial products distribution & support services
RevenueIncrease$6.265 billion CAN (2017)[2]
Number of employees
13,975 (2023)
Websitefinning.com

Finning is a Canadian industrial equipment dealer specializing in Caterpillar products. It is responsible for selling, renting and providing parts and service for equipment and engines to customers in industries including mining, construction, petroleum, forestry and a wide range of power systems applications. According to the company, it is the largest Caterpillar dealer in the world.[3]

Finning employs more than 13,000 people worldwide and operates in three geographies (Western Canada, South America, and UK and Ireland), with its head office in Vancouver, British Columbia, Canada.

In Western Canada, Finning provides product support services across British Columbia, Yukon, Alberta, Saskatchewan, the Northwest Territories, and a portion of Nunavut. The regional head office is in Edmonton, Alberta.

In South America, Finning’s regional head office is located in Santiago, Chile, and product support services are provided across Chile, Argentina and Bolivia.

In the United Kingdom and Ireland, Finning’s regional head office is in Cannock, UK, and product support services are provided across the two countries.[4]

History

Earl B. Finning started the Finning business in 1933 in western Canada. The business expanded, and by 1965, the company had more than one thousand employees and annual revenues of up to $78 million dollars. In 1969, Finning went public, with its common shares trading on the Vancouver and Toronto stock exchanges under the symbol FTT. Finning remains one of only a handful of publicly traded Caterpillar dealers. In 1983, Finning acquired the right to represent Caterpillar in western England, Wales and Scotland. Then in 1989, Finning expanded into Alberta and the Northwest Territories.

By 2003, Finning was operating as the sole dealer of Caterpillar equipment in England, Scotland, Wales, as well as in Chile, Argentina and Bolivia. In 2004, Finning invested in OEM Manufacturing, a component rebuild facility in Edmonton, Alberta. Finning was appointed dealer in Northern Ireland and the Republic of Ireland in 2010 and Finning acquired rights to represent Caterpillar in the Canadian province of Saskatchewan in 2015.

Today, Finning operates in six countries, with annual revenues of $6.2 billion (2017) and is the largest Caterpillar dealer in the world.[3]

References

  1. ↑ "About | Finning Cat".
  2. ↑ "Q4 and Annual 2017 Earnings Release and Investor Call". Finning International Inc. Retrieved 2018-05-02.
  3. 1 2 "History | Finning Cat".
  4. ↑ "About | Finning Cat".
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