Finning, the Largest Caterpillar Dealer in the World, Turns 90

From humble beginnings in 1933, to the international organization it is today, one thing has remained consistent: Finning has a reputation for service excellence.

90 years later, the unrivalled customer service provided by thousands of Finning International employees, together with their investment in developing unmatched service capabilities, that distinguish them as an industry leader. Finning considers themselves a partner in their customers’ success and make it their mission to support their businesses.

Over the past nine decades, Finning has endured, grown, empowered, and innovated. And while the world may be a bit different today, they know that some things never change. Hardworking people, lifelong relationships, and a company their customers can trust.

Because their work is never done.

The Early Years: Founded by Earl B. Finning in 1933

In 1928, a young man by the name of Earl B. Finning was working as a salesman for the Caterpillar Tractor Co. distributor in California. Being somewhat of an adventurer, he believed that greater opportunities lay in the relatively underdeveloped province of British Columbia on Canada's pacific coast. He moved to Vancouver and established a small business, selling and servicing heavy equipment.

Earl Finning's company had one unique characteristic that would distinguish itself from its competitors. Unlike his competitors, he believed that parts availability and repair services were essential to machine productivity. From day one, Earl Finning's operating philosophy could be captured in the words: "We service what we sell."

Those first years were challenging, and surviving the great depression was no easy feat for a new company supplying products and services to resource industries especially hard hit by the times. Despite the challenges, the company steadily built its reputation and Earl Finning managed to secure a business loan as well as the sole distribution rights for Caterpillar Tractor Co. products and services in British Columbia. On January 4, 1933, the Finning Tractor & Equipment Company Ltd. was incorporated. The Finning name soon spread throughout British Columbia and became synonymous with reliable products and service.

Rapid Expansion: Finning Becomes One of Few Publicly-Held Cat Dealers

Finning’s first branch was opened in Nelson, British Columbia in 1937. This was the beginning of a far-reaching network of branches and facilities to spring-up across the province. Over the next two decades, they won several large construction contracts, and the business grew steadily. After the Second World War, came great industrial expansion — mining, forestry, hydroelectric developments, roads, and pipelines. It was the beginning of three decades of prosperity for a name that came to be associated with the best heavy equipment in the world: Caterpillar equipment. This period reinforced the concept of service through a comprehensive network of branches in even the most remote areas of the province, constantly improving their contact with clients.

The 50s and 60s were good years. Major government highway, hydroelectric and defence contracts helped Finning to become one of the most successful companies on Canada's west coast. As industry in the province developed, they grew to keep pace. Private-sector industry in the areas of forestry, mining and construction helped them obtain a pre-eminent position in the heavy equipment field.

In 1965, Earl Finning passed away at the age of 69 years, but his family retained control of the company. By the end of the decade, annual revenues topped $78 million dollars and they had more than a thousand employees located at branches throughout the province, as well as a new headquarters and service facility in Vancouver.

In 1969, the Finning family took steps to increase the company's financial base and took Finning public. The company’s common shares began trading on the Vancouver and Toronto stock exchanges in September 1969 under the symbol FTT. This was a rare move for a Caterpillar dealership, and to this day, Finning remains one of only a handful of publicly traded Caterpillar dealers.

The Global Leap: Finning Expands Beyond Canada to Become an International Company

In the 70s, Finning entered new areas, most importantly the manufacture of their own line of equipment, destined primarily for use in the forestry industry. Acquisitions of several smaller companies allowed them to increase and diversify our activities. They also consolidated our Caterpillar representation in the Yukon and Northwest Territories. The greatest move, however, occurred in the 1980s, when Finning went from being a Canadian company to an international one. When the recession of the early 1980s came, the downturn hit the resource industries of western Canada hard, but under the leadership of Maury Young and new president Vin Sood, Finning not only remained in the black, but also stepped out onto the world stage. In 1983, they acquired the rights to represent Caterpillar in western England, Wales, and Scotland. Finning purchased two Caterpillar dealerships in the United Kingdom: Bowmaker (Plant) Ltd. and Caledonian Tractor and Equipment Co. Ltd., which were later merged into one operation as Finning Limited. Along with the acquisition of the overseas dealerships, revenue climbed to $450 million, and they now employed more than 2,200 people.

Finning continued to focus on profitable growth, and in 1989, again broadened their geographic base in western Canada by acquiring the R. Angus Caterpillar dealership in Alberta. They now gained the right to represent Caterpillar products in all of Alberta, and the Northwest Territories west of the Saskatchewan/Alberta border. This move would place them firmly as a key supplier to Canada's oil and gas industry, most notably their continued involvement with the massive oil sands projects of northern Alberta.

In the 90s, they continued looking for new opportunities in other countries. Finning saw promise in Chile, which was enjoying a period of rapid growth and stability. There were opportunities in virtually all sectors (mining, forestry, construction, and fishing) and so, in 1993, Finning acquired the Caterpillar distribution from Gildemeister S.A.C., Chile's sole Caterpillar dealer since 1940. In 1997, the name was officially changed to Finning Chile S.A. Also in that same year, we acquired Leverton, the remaining Caterpillar dealer in England – Finning was now the sole dealer for Caterpillar products in England, Scotland, and Wales.

Continued Growth & Success: Finning Continues to Expand Its Global Footprint

1997: Changed the name to Finning International Inc. in acknowledgment of their presence in three countries, Canada, South America, and the United Kingdom (UK).

2001: Acquired Hewden Stuart Plc., the largest rental and related services business in the UK, establishing them as the leader in the UK rental sector.

2003: Acquired the Cat dealerships in Argentina and Bolivia, expanding their operations in South America and solidifying their position as Caterpillar's largest dealer. - 2004: Invested in OEM Remanufacturing, a component rebuild facility in Edmonton Alberta.

2005: Finning Canada acquired 25% ownership in PipeLine Machinery International – a new global Cat dealership for pipeline equipment.

2010: Sold their UK rental business and expanded UK operations with the addition of dealerships across Ireland.

2012: Acquired Bucyrus from Caterpillar, significantly expanding the product portfolio with surface and underground mining equipment and strengthening their leadership position in the mining sector.

2015: Purchased the operating assets of Kramer Ltd. to become the Cat dealer in Saskatchewan.

2018: Published their first Sustainability report, outlining their global efforts to positively impact the communities they serve and live in.

2019:

• Acquired 4Refuel, the Canadian leader in mobile on-site refuelling services.
• Launched their customer facing portal My.Finning.Com, which was rebranded in 2021 and now called CUBIQ.

2021:

• 4Refuel, a subsidiary of Finning Canada, acquired ownership interest in ComTech Energy.
• Offered the first autonomous mining in South America, improving safety and efficiency for their customers.

2022: Acquired Hydraquip, an on-site mobile hydraulic hose services company in the UK, expanding their product support capabilities.

The unrivalled customer service provided by thousands of Finning employees over time, coupled with their investments in developing unmatched service capabilities distinguish Finning and position them to remain an industry leader. Finning employs over 12,000 people world-wide and operates in three geographies, with the head office in Vancouver, Canada.

SOURCE: All information from this article was found on Finning’s website - https://www.finning.com - and reshared

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