Tornado Global Hydrovacs Poised to Grow in 2022
January 31 2022 - 7:00AM
Tornado Global Hydrovacs Ltd. (“Tornado”, the “Company” or “we”)
(TGH: TSX-V) is pleased to announce that it has strategically
positioned itself for growth in 2022 and beyond. Over the past
several months, Tornado has focused on implementing five strategic
initiatives: (i) restructuring our management team by recruiting
some of the top managers in the industry; (ii) relocating from a
leased facility to a much larger and well equipped, owned facility
in a better location; (iii) expanding our product line to match the
needs of the excavation industry; (iv) taking a new approach to the
way we distribute our products; and (v) strengthening our financial
position to help fund the growth.
“These strategic initiatives have been pursued
because the demand for hydro-excavation is expected to grow
significantly for two primary reasons: infrastructure rejuvenation
and global warming. We have all read about the amount of
infrastructure spending expected in the years ahead and the demands
this will create for hydro-excavation and in turn for hydrovac
trucks. What is also clear is that we are seeing an increase in
destructive weather patterns that is making the need for rapid
response from non-destructive excavation equipment such as
hydrovacs, to swiftly repair infrastructure damage,” said Brett
Newton, Tornado’s President and CEO.
About Tornado Global Hydrovacs
Ltd.Tornado is a pioneer and leader in the vacuum truck
industry and has been a choice of oilfield and utility
professionals with over 1,000 hydrovacs sold since 2005. The
Company designs and manufactures hydrovac trucks as well as
provides heavy duty truck maintenance operations in central
Alberta. It sells hydrovac trucks to excavation service providers
in the infrastructure and industrial construction and oil and gas
markets. Hydrovac trucks use high pressure water and vacuum to
safely penetrate and cut soil to expose critical infrastructure for
repair and installation without damage. Hydrovac excavation methods
are quickly becoming a standard in the North America to safely
excavate in urban areas and around critical infrastructure greatly
reducing infrastructure damage and related fatalities. In China,
the Company’s subsidiary is used principally to source certain
parts to the Company’s North America operations.
For more information about Tornado Global
Hydrovacs Ltd., visit www.tornadotrucks.com or contact:
Brett NewtonPresident & Chief
Executive OfficerPhone: (416) 522-6390Email: bnewton@tghl.ca |
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Advisory
Certain statements contained in this news
release constitute forward-looking statements. These statements
relate to future events. All statements other than statements of
historical fact are forward-looking statements. The use of the
words “anticipates”, “should”, ‘‘may”, “expected”, “expects”,
“believes” and other words of a similar nature are intended to
identify forward-looking statements. These statements involve known
and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking statements. Although Tornado
believes these statements to be reasonable, no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this news release should not
be unduly relied upon. Such statements include the statement with
respect to: (i) management’s belief that is has strategically
positioned Tornado for growth in 2022 and beyond; (ii) the expected
increase in the amount of infrastructure spending and the demand
such spending will create for hydro-excavation and in turn hydrovac
trucks; and (iii) the increase in natural disasters caused by
global warming and effect of the same on the need for
hydro-excavation. The forward-looking statements contained in this
news release represent Tornado’s expectations as of the date
hereof, and are subject to change after such date. Tornado
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as may be required by applicable
securities regulations.
Neither the Exchange nor its Regulation
Service Provider (as that term is defined in policies of the
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
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