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Update: Toromont + Enerflex = Enerflex Ltd.

Posted on January 28, 2010

Toromont Industries Ltd. (Toromont), which announced on January 21 that it had acquired 96% of Enerflex Systems Income Fund (EFS) units, reports that the process of merging its Toromont Energy Systems with EFX is well under way. The remaining units are expected to be acquired in late February. The combined organization is now Enerflex Ltd., a subsidiary of Toromont Industries Ltd. and Blair Goertzen (formerly President and CEO of EFX) has been appointed the company’s president and CEO.

The following senior management appointments have been made, all reporting to Goertzen: Jerry Fraelic, president US; Ivan Heidecker, president Canada; Bill Moore, president international; Caspar De Jong, managing director Europe; Toufic Khalik, managing director Middle East and North Africa; and Steve Dropulich, managing director AustralAsia. Goertzen will be supported by an experienced corporate team including James Harbilas, vice president and CFO; Rachel Moore, vice president Human Resources and Greg Stewart, vice president and CIO.

Toromont said that the decentralized structure of the merged company “capitalizes on the very strong managers coming out of both organizations while minimizing the actual integration effort that will be required. As a result, our executive team will remain focused on their primary role of providing superior service to our customers around the world.”

"We are excited about the prospects for Enerflex Ltd. It is now a well capitalized global leader in the compression market built on the complementary strengths of its predecessor organizations," said Robert M. Ogilvie, chairman and CEO of Toromont. "With a strong leadership team in place, the prospects for this business are excellent and will become more evident when the demand for compression equipment picks up."

For more information: www.toromont.com

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