CERF Incorporated Provides Capital Expenditure and Contract Extensions Update
2014年1月28日 - 3:16AM
Marketwired
CERF Incorporated Provides Capital Expenditure and Contract
Extensions Update
CALGARY, ALBERTA--(Marketwired - Jan 27, 2014) - Mr. Wayne
Wadley, President of CERF Incorporated (the "Company" or "CERF
Inc.") (TSX-VENTURE:CFL), is pleased to announce that the Board of
Directors of the Company has approved a significant increase to
CERF Inc.'s capital budget for 2014. Capital spending for 2014 is
forecast to be $11,300,000 compared to the $7,700,000 that was
spent in 2013 (representing a 47% increase year over year).
Maintenance capital, which is defined as the amount of capital
expenditures required to keep our operating assets functioning at
the same level of efficiency and to maintain the average age of the
rental fleets at approximately the same average age as it was at
the end of the previous year, is forecasted to be $4,000,000 for
2014 vs. $3,700,000 in 2013. The balance of $7,300,000 of the
capital budget will be used for growth within the various CERF
businesses.
Mr. Wadley is also
pleased to announce that its wholly owned subsidiary MCL Waste
Systems & Environmental Inc., ("MCL") has been awarded
operating contract extensions to its core business at three of its
managed municipally owned facilities located around central and
northern Alberta. The aggregate value of these base contract
extensions is approximately $23,000,000 over various periods of up
to five years. Under the base contracts, MCL has the opportunity
for extra contract work at two of these facilities. In addition to
these extensions, MCL has been awarded a municipal waste transfer
operations contract valued at $1,400,000 million for a three year
period with provision for two one year extensions valued at an
additional $950,000 when adjusted for inflation.
Mr. Wadley makes the
following statements:
"Based on strong
demand for our construction and oilfield related equipment, the
Board of Directors believed that it was important to increase our
2014 capital budget to take advantage of this activity.
Construction activity in the Edmonton and surrounding northern
Alberta areas is forecasted to be robust for the next several years
as both major and smaller projects are kicking off or are on the
books for development. This activity also can translate into
increased opportunities for the collection, transportation and
placement of construction waste through the various operated MCL
facilities in the region, garnering increased profits for that
company.
We are also excited
to have the MCL contracts extended. MCL provides a sound business
model that brings predictability of profitability to the CERF Inc.
group of companies and to have these extensions for up to five
years validates that model. These extensions underscore the
expertise of the MCL management and staff to continue to provide
top level service to the various municipal authorities."
CERF Inc. is engaged
in the rental, sale and service of industrial, construction and
oilfield equipment and waste management and environmental services.
CERF Inc. which trades on the TSX Venture Exchange under the symbol
"CFL" and currently has 16,059,356 shares issued and
outstanding.
Forward-Looking
Statements
Certain
information contained herein relating to, but not limited to, CERF
Inc. and its subsidiaries, and the statements of Mr. Wadley,
constitutes forward-looking information under applicable securities
laws. All statements, other than statements of historical fact,
which address activities, events or developments that CERF Inc.
expects or anticipates may or will occur in the future, are
forward-looking information. Forward- looking information typically
contains statements with words such as "may", "estimate",
"anticipate", "believe", "expect", 'plan", "intend", "target",
"project", 'forecast" or s imilar words suggesting future outcomes
or outlook. Forward-looking statements in this news release
include, but are not limited to, the amount of CERF Inc.'s
forecasted 2014 capital spending, the portion thereof committed to
maintenance capital and statements with respect to forecasted
construction activity in the Edmonton and surrounding northern
Alberta area and the resultant increased opportunities for MCL and
by implication for CERF Inc.
Although CERF Inc.
believes that the expectations conveyed by the forward-looking
information are reasonable based on information available on the
date of preparation, no assurances can be given as to future
results, levels of activity and achievements. Demand for rental
equipment may decline, construction activity in the current and
future years may not be robust, anticipated construction projects
may not be started or completed. Construction projects if started
and completed may not translate into increased opportunities for
the collection, transportation and placement of construction waste
through facilities operated by MCL. Undue reliance should not be
placed on the information contained herein, as actual results
achieved will vary from the information provided herein and the
variations may be material. CERF Inc. makes no representation that
actual results achieved will be the same in whole or in part as
those set out in the forward-looking information. Furthermore, the
forward-looking statements contained herein are made as of the date
hereof and CERF Inc. does not undertake any obligation to update
publicly or to revise any forward -looking information, whether as
a result of new information, future events or otherwise. Any
forward-looking information contained herein is expressly qualified
by this cautionary statement.
Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
CERF IncorporatedWayne WadleyPresident and CEO(403)
850-4095wwadley@cerfcorp.comCERF IncorporatedKen StephensCFO(403)
281-1042(403) 238-2720kstephens@cerfcorp.com
CERF Incorporated (TSXV:CFL)
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