TSX Stock Symbol: TIH
TORONTO, June 17, 2026 /CNW/ - Toromont Industries Ltd. ("Toromont" or the "Company") (TSX: TIH) has continued to evaluate the market dynamics for its engine enclosure business at AVL Manufacturing Inc. ("AVL"). Demand and production capacity at AVL have been solidified for 2026 via current backlog and the ramp-up of our production in Charlotte, North Carolina.
Today, Toromont's Power Systems business has received confirmation of firm orders for approximately CAD$1 billion, with delivery to occur substantially in 2027. The orders are expected to require incremental capacity beyond 2026 levels. To support this anticipated demand, the Company is evaluating additional efficiencies at existing facilities and acquiring land for a new facility in the Hamilton, Ontario, area.
About Toromont
Toromont Industries Ltd. ("Toromont" or "the Company") operates through two business segments: the Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba, in addition to most of the territory of Nunavut. The Equipment Group includes industry-leading rental operations, a material handling business and a power generation enclosure manufacturer. CIMCO is one of North America's leading suppliers of thermal management solutions that enable customers to reduce energy consumption and emissions, use natural refrigerants, and monitor and control their operating environments autonomously. Both segments offer comprehensive product support capabilities. This press release and more information about Toromont Industries Ltd. can be found at www.toromont.com.
FORWARD-LOOKING INFORMATION
Information in this press release that is not a historical fact is "forward-looking information". Words such as "plans", "expects", "anticipates", "believes", "could", "will", "may" and similar expressions are intended to identify forward-looking information.
Forward-looking information in this press release includes, but is not limited to, statements regarding expected manufacturing, delivery periods, backlog, revenue contributions, facility efficiencies, land acquisition and potential facility development, and growth and AVL's additional capacity requirements and prospects. Forward-looking information reflects management's current estimates, beliefs and assumptions, which are based on historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances.
Forward-looking information is subject to significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including risks relating to production capacity, customer demand, order modifications or cancellations, supply chain constraints, project execution, construction and labour challenges, and general economic and market conditions. Readers are cautioned not to place undue reliance on forward-looking information.
For a further description of risks and uncertainties, please refer to the Company's most recent Management's Discussion and Analysis and Annual Information Form.
Toromont disclaims any obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
For more information contact:
John M. Doolittle
Executive Vice President and Chief Financial Officer
Toromont Industries Ltd.
T: (416) 514-4790
SOURCE Toromont Industries Ltd.
View original content: http://www.newswire.ca/en/releases/archive/June2026/17/c4484.html