Finning International Inc. (TSX:FTT) has increased its commercial marine market by adding distribution rights to provide engine parts and service to the marine industry along the west coast of North and South America.
The deal with Caterpillar Marine Power Systems greatly expands Finning's distribution territory from the U.K., the west coast of Canada and Chile to include the west coast of North America, all of Mexico, Central America, Ecuador, Peru, Argentina and Uruguay.
The deal also gives Finning access to ships requiring parts and service travelling through the Panama Canal.
Finning's share price range during the past week: between $53.49 and $54.08; 52-week high: $55.10; 52-week low: $35.76.