Toromont Industries Ltd - Company Profile
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Toromont Industries Ltd (Toromont) is a company that specializes in the sale, rental, and provision of mobile equipment and industrial engines. The company operates Caterpillar dealerships through Toromont CAT and develops combined power and heat projects through Toromont Energy. Toromont's product offerings include brand-name lift trucks, drills, dozzers, container handlers, industrial batteries, chargers, and racking systems, as well as machine control systems, site positioning software, and asset management technologies. Notable brands associated with the company include Toromont CAT, Toromont Energy, Toromont Material Handling, SITECH, and CIMCO. The company serves a diverse range of customers, including ports and terminals, paper producers, construction, forest industry, automotive parts manufacturers, beverage companies, hardware retailers, and government agencies. The company operates in the US and Canada, targeting industrial, recreational, and commercial markets. Toromont is headquartered in Concord, Ontario, Canada.
Headquarters
Canada
Address
3131 Highway 7 West, Concord, Ontario, L4K1B7
Website
www.toromont.com
Telephone
1 416 6675511
No of Employees
7,900
Industry
Industrial Goods and Machinery
Ticker Symbol & Exchange
TIH (TSE)
Revenue (2024)
$3.7B
3.6%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
-2%
(2024 vs 2023)
Market Cap*
$12.9B
Net Profit Margin (2024)
XYZ
-5.5%
(2024 vs 2023)
* As of and is in US$
Toromont Industries Ltd premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Articulated Trucks | Distribution of replacement parts for Caterpillar products and other equipment lines |
| Asphalt Pavers | Remanufacture and repair of engines and engine components |
| Backhoe Loaders | Equipment monitoring |
| XYZ | XYZ |
| XYZ | XYZ |
| XYZ | XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2025 | Plans/Strategy | In May, AVL Manufacturing announced its plans to establish a new production facility in Charlotte, North Carolina, the US, to build enclosures for industrial power generators. |
| 2025 | Acquisitions/Mergers/Takeovers | In February, the company announced the acquisition of a 60% stake in AVL Manufacturing Inc. |
| 2024 | Acquisitions/Mergers/Takeovers | In September, the company announced the acquisition of Tri-City Equipment Rentals, an online construction equipment rental company. |
Competitor Comparison
| Key Parameters | Toromont Industries Ltd | Finning International Inc | Russel Metals Inc | Wajax Corp | NES Rentals Holdings Inc |
|---|---|---|---|---|---|
| Headquarters | Canada | Canada | Canada | Canada | United States of America |
| City | Concord | Surrey | Mississauga | Toronto | Chicago |
| State/Province | Ontario | British Columbia | Ontario | Ontario | Illinois |
| No. of Employees | 7,900 | 15,047 | 4,275 | 2,900 | - |
| Entity Type | Public | Public | Public | Public | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Richard G. Roy | Chairman | Executive Board | 2018 | 70 |
| Mike S. H. McMillan | Director; Chief Executive Officer; President | Executive Board | 2023 | 59 |
| John M. Doolittle | Chief Financial Officer; Executive Vice President | Senior Management | 2023 | - |
| Michael P. Cuddy | Chief Strategy Officer | Senior Management | 2025 | - |
| Habeeb Syed | Chief Legal Officer; Corporate Secretary; General Counsel | Senior Management | 2025 | - |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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