Textainer (TGH) GlobeNewswire·2025-02-04 12:30Core Viewpoint - Tornado Infrastructure Equipment Ltd. has launched Tornado Equipment Finance, a financing arm aimed at providing flexible financial solutions for Canadian customers to acquire hydrovac trucks and infrastructure equipment, enhancing customer accessibility and generating additional revenue streams [2][3][11] Group 1: Launch of Tornado Finance - Tornado Finance will offer financing, rental, and leasing solutions exclusively to Canadian customers, facilitating easier access to Tornado's hydrovac trucks [2][3] - The initiative is expected to strengthen long-term customer relationships and solidify Tornado's position as a full-service provider in the infrastructure equipment sector [2][11] Group 2: Q4/2024 Business Update - Tornado reported a record quarter for hydrovac truck sales and production in Q4/2024, manufacturing and selling 88 hydrovac trucks, totaling 320 for the year, compared to 241 in 2023 [3][4] - The strong performance followed a temporary production slowdown in Q3/2024 due to the launch of a new product line and preparations for an expanded manufacturing facility [4] Group 3: Tariff Mitigation Strategies - In response to a delayed 25% tariff on imports from Canada, Tornado is implementing strategies to mitigate its impact, including supplying backend-only units to U.S. customers to reduce tariff exposure [5][6] - The company is exploring opportunities for final assembly in the U.S. and leveraging its existing U.S. entity, Tornado USA, to navigate tariff-related challenges [6][7] Group 4: Company Overview - Tornado is a leader in the vacuum truck industry, having sold over 1,700 hydrovacs since 2008, and specializes in designing and manufacturing hydrovac trucks for the infrastructure and industrial construction markets [8]