Le Lézard
Classified in: Business
Subject: CON

Cervus Completes Sale of its Four Alberta-based Construction Dealerships


Strategy will focus on Scalability of Agriculture, Transportation and Industrial Dealership Groups

CALGARY, March 19, 2018 /CNW/ - Cervus Equipment Corporation ("Cervus" or the "Company") (TSX: CERV) today announced that it has completed the sale of its construction dealership group, composed of four dealership locations in Calgary, Red Deer, Edmonton and Fort McMurray, Alberta.

The transaction price is in excess of Cervus' carrying value and includes the land and building at the Fort McMurray construction dealership. For the year ended December 31, 2017, the construction dealership group had revenue of $51.9 million and income before income tax expense of $2.5 million. As a result of the divestiture, Cervus' Commercial and Industrial segment, which now sells Clark, Sellick and Doosan material handling equipment, will be referred to as the Industrial segment. 

About Cervus Equipment Corporation

Cervus acquires and operates authorized agricultural, transportation and materials handling equipment dealerships. The Company has interests in 62 dealerships in Canada, New Zealand, and Australia, employing more than 1,500 people. The primary equipment brands represented by Cervus include John Deere agricultural equipment; Peterbilt transportation equipment; and Clark, Sellick and Doosan material handling equipment. The common shares of Cervus are listed on the Toronto Stock Exchange and trade under the symbol "CERV".

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Cervus Equipment Corp.


These press releases may also interest you

at 21:50
Discovery Silver Corp. ("Discovery" or the "Company") today announced financial results for the three and twelve months ended December 31, 2023 ("Q4 2023" and "2023", respectively). The Company also provided a summary of key events since the...

at 21:35
This news release for Sagicor Financial Company Ltd. ("Sagicor" or the "Company") should be read in conjunction with the Company's Management's Discussion & Analysis ("MD&A") and the Consolidated Financial Statements for the period ended December 31,...

at 21:35
Drake's Brewing Co., an award-winning craft brewery based in San Leandro, is proud to...

at 21:00
OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today published a report titled 'Unlocking the Infinite Potential of Crypto and AI.' The report explores the convergence of AI and crypto, a major trend in...

at 20:50
Pharma (1167.HK), a clinical-stage oncology company drugging the undruggable targets, today announced its 2023 annual results. The revenue was RMB63.5 million, the R&D investment was RMB372 million, the cash and cash equivalent at the end of 2023 was...

at 20:45
The "Austria Social Commerce Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q1 2024 Update" report has been added...



News published on and distributed by: