- Tornado Global Hydrovacs (OTC:TRRNF) stated Tuesday it has signed a supply contract with The Toro Company's (TTC) Ditch Witch division.
- The deal includes the delivery of proprietary hydrovac trucks that are estimated to generate a gross revenue of US$43.85M to Tornado during the 4-year agreement term.
- “Tornado is thrilled to have co-designed and started to supply an innovative and proprietary hydrovac truck that will be distributed through the Ditch Witch construction equipment network. Combined with our other sales of hydrovac trucks, we expect this relationship to further optimize the utilization of our manufacturing capacity much more rapidly," stated Brett Newton, CEO of Tornado.
- Delivery of the first customized hydrovac truck is expected to be completed in Q3 2022.
- Earlier: Tornado Global Hydrovacs GAAP EPS of C$0.004, revenue of C$9.94M
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