"2016 was a challenging year for Strongco, but saw meaningful progress in our efforts to streamline and stabilize the business. As weak markets persist, we now have a much younger and more focused inventory, a more sustainable cost structure and a stronger balance sheet," said Robert Beutel, Executive Chairman of Strongco. "Management believes the actions taken set the stage for greater profitability going forward, regardless of market conditions. We remain confident that financial stability, along with exceptional customer service and a greater focus on core world-class suppliers, will enhance our position, positively impact cash flow and deliver greater value over the long term."
Activities During the Fourth Quarter and the Year
Fourth Quarter and Year-End Results Materials
The complete fourth quarter and year-end 2016 MD&A and Audited Consolidated Financial Statements are available on our website at www.strongco.com/en/investor-relations/financial-reports/.
Conference Call Details
Strongco will hold a conference call on Friday, March 24 at 10:00am ET to discuss fourth quarter and year-end results. Analysts and investors can participate by dialing 1-800-319-4610 or +1-604-638-5340 outside of Canada and the USA. Following management's introductory remarks, a question and answer session will take place for analysts and institutional investors.
An archived recording will be available to listeners following the call until midnight on April 24, 2017. To access it, dial 1-855-669-9658 or +1-604-674-8052 outside of Canada and the U.S., and enter passcode 1079#.
About Strongco Corporation
Strongco Corporation is a major multiline mobile equipment dealer with operations across Canada. Strongco sells, rents and services equipment used in diverse sectors such as construction, infrastructure, mining, oil and gas, utilities, municipalities, waste management and forestry. The Company has approximately 515 employees serving customers from 27 branches in Canada. Strongco represents leading equipment manufacturers with globally recognized brands, including Volvo Construction Equipment, Case Construction, Manitowoc Crane, including National and Grove, Terex Cedarapids, Terex Trucks, Fassi, Sennebogen, Konecranes and SDLG. Strongco is listed on the Toronto Stock Exchange under the symbol SQP.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.