Toromont Industries Ltd - Company Profile
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Toromont Industries Ltd (Toromont) sells, rents, and provides mobile equipment and industrial engines. The company operates Caterpillar dealerships through Toromont CAT. Its Toromont Energy develops combined power and heat projects using Caterpillar engines; Toromont Material Handling rents, supplies, and provides services to lift trucks and SITECH supplies control systems for specialized mobile equipment. Toromant also operates material handling and agricultural equipment businesses. The company also designs, engineers, fabricates, installs, and provides product support to industrial and recreational refrigeration systems. It optimizes energy usage through a proprietary product, ECO CHILL. The company supplies and provides product support services for specialized mobile equipment to the agriculture industry through Agwest. The company operates in the US and Canada. Toromont is headquartered in Concord, Ontario, Canada.
Headquarters
Canada
Address
3131 Highway 7 West, P.O. Box 5511, Concord, Ontario, L4K1B7
Website
www.toromont.com
Telephone
1 416 6675511
No of Employees
6,400
Industry
Industrial Goods and Machinery
Ticker Symbol & Exchange
TIH (TSE)
Revenue (2022)
$3.3B
8.9%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
36.5%
(2022 vs 2021)
Market Cap*
$7.8B
Net Profit Margin (2022)
XYZ
25.5%
(2022 vs 2021)
* As of and is in US$
Toromont Industries Ltd premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Earthmoving And Construction Equipment | Distribution of replacement parts for Caterpillar products and other equipment lines |
| Paving Machines | Remanufacture and repair of engines and engine components |
| Mining And Forestry Equipment | Equipment monitoring |
| XYZ | XYZ |
| XYZ | XYZ |
| XYZ | XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Contracts/Agreements | In April, the company entered into an agreement for the sale of AgWest Ltd., a wholly-owned subsidiary to Mechan International, part of the Zweegers Equipment Group effective May 1, 2023. |
| 2022 | Corporate Changes/Expansions | In September, the company announced to build new 137,000 sq. ft. remanufacturing facility in the Town of Bradford West Gwillimbury, Ontario. |
| 2017 | Acquisitions/Mergers/Takeovers | In October, the Toromont acquired Hewitt Equipment, a company that sells, rents, and services a line of Caterpillar machines, engines, and power generation systems. With the acquisition the company is expanding its presence in Quebec, Western Labrador and Maritime markets and boosting its expertise in mining, construction, power systems and forestry sectors. |
Competitor Comparison
| Key Parameters | Toromont Industries Ltd | Mitsubishi Heavy Industries Ltd | United Rentals Inc | Wajax Corp | NES Rentals Holdings, Inc |
|---|---|---|---|---|---|
| Headquarters | Canada | Japan | United States of America | Canada | United States of America |
| City | Concord | Chiyoda-Ku | Stamford | Mississauga | Chicago |
| State/Province | Ontario | Tokyo | Connecticut | Ontario | Illinois |
| No. of Employees | 6,400 | 76,859 | 24,600 | 3,000 | - |
| Entity Type | Public | Public | Public | Public | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Scott J. Medhurst | Director; Chief Executive Officer; President | Executive Board | 2012 | - |
| Mike McMillan | Executive Vice President; Chief Financial Officer | Senior Management | 2020 | - |
| Michael P. Cuddy | Chief Information Officer; Vice President | Senior Management | 2004 | - |
| Joel Couture | Chief Operating Officer-Toromont Cat | Senior Management | 2022 | - |
| Richard G. Roy | Chairman | Non Executive Board | 2018 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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