EDMONTON, Nov. 3 /CNW/ - Canadian Equipment Rental Fund Limited
Partnership ("CERFLP") is pleased to provide an operations update. Demand for
rentals during the summer and fall months was strong and continues as the fall
and winter season approaches. Total gross revenues were $1,588,220 or 18%
above budgeted forecasts for the quarter ending September 30, 2005. Gross
revenues for the same period last year were $877,083.99 representing an 81%
increase.
Equipment investment for the quarter was $933,245 or a 26% increase to
the existing fleet. This will immediately translate into continued revenue
increases throughout the year. Demand for our equipment and services are
fueled by major projects in Northern Alberta. In the Strathcona County alone,
in which CERFLP is situated, $7 Billion worth of commercial and industrial
projects will take place from 2006-2010. The rental industry is expecting the
increased demand will lead to increased rental rates and profitability across
the market.
CERFLP continues to be aggressive in their marketing of temporary
construction heating equipment in Edmonton and Northern Alberta. Demand for
advanced cold weather construction technologies and maintenance requirements
continue to be an ongoing issue with the construction, oil and gas, and
contractors building in the northern climate. The introduction of the Arctic
Bear, the newest heat technology from Ground Heaters Inc., is expected to meet
some of the extreme cold weather demands. Currently, CERFLP is the largest
distributor of Ground Heaters in Alberta and was recently honored with the
2005 'Outstanding Distributor Award' for Alberta in recognition of outstanding
sales and service.
CERFLP is a Canadian limited partnership engaged in the rental, sale and
service of industrial and construction equipment. CERFLP trades on the TSX
Venture Exchange under the symbol "CFL.UN" and currently has 3,136,301 units
issued and outstanding.
%SEDAR: 00018037E
