Cervus equipment corp. expanding
A farm and construction equipment dealership chain with roots in Red Deer is expanding its operations. Cervus Equipment Corp. (TSX-V: CVL) announced on Friday that it has agreed to acquire the shares of A.R. Williams Materials Handling Ltd. The purchase price is $22.7 million, plus a percentage of A.R. Williams earnings between Sept. 1 and Dec. 31, estimated at about $1 million. The deal is expected to close on Jan. 1, 2010. A.R. Williams sells, rents and services industrial products and equipment from 10 locations in Alberta, Saskatchewan and Manitoba, including Red Deer. Cervus originated in Red Deer but now has its headquartered in Calgary. It operates 17 John Deere dealerships in Alberta, Saskatchewan and Manitoba, and five construction equipment dealerships in Alberta that sell Bobcat, JCB and JLG equipment. In 2005, Cervus bought A.R. Williams Contractors Equipment Ltd., a sister company of A.R. Williams Materials Handling. That deal gave Cervus its Bobcat, JCB and JLG network. Cervus also released its third quarter financial results Friday. These revealed net earnings of $8.7 million for the quarter, based on revenues of $121.2 million. In the same quarter of 2008, the company’s net earnings were $8.9 million and its revenues $107.6 million.
Stantec to devise transport strategy
A proposed transportation strategy for the region is moving to the next stage.
The Central Alberta Economic Partnership has awarded Stantec Consulting Ltd. the contract to develop the strategy. CAEP, which is a consortium of 41 member municipalities and 13 associate member organizations, announced earlier this year that it wants to develop a strategy to help co-ordinate the transportation system in the region. The purpose would be to promote the development of reasonable and affordable transportation options.
— Advocate staff