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Toromont Acquires Engineered Refrigeration Systems Inc.

TORONTO - Toromont Industries' CIMCO Refrigeration Division has acquired Engineered Refrigeration Systems Inc. (ERS), a privately owned company based in Mobile, Ala.

Founded in 1953, ERS is a regional supplier of industrial refrigeration equipment. The company offers comprehensive product support to a wide variety of customers in the Southeastern United States and other markets.

Results from ERS operations have been included in Toromont's consolidated financial statements since Dec. 1. The acquisition is expected to increase annual revenues by approximately $15 million Canadian.

"This acquisition allows us to expand our North American coverage of the industrial and recreational refrigeration market," noted Steve McLeod, president of CIMCO Refrigeration. "We now have 27 locations and over 700 employees dedicated to servicing our customers around the world."

Publication date: 01/24/2005

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