TO
OUR SHAREHOLDERS
I am pleased to report that Finning International
continued its improved performance in 2000 compared
with the previous year. With a determined focus
on asset utilization and cost reduction, and improved
natural resources markets, Finning generated net
income of $0.95 per share in 2000 compared with
$0.75 per share in 1999, an improvement of 27%.
Early this year, we announced an important growth
initiative - the acquisition of Hewden Stuart
- the U.K.'s leading small equipment rental company.
This acquisition positions Finning as the leading
equipment distributor in the U.K. with a significant
position in the fast growing small equipment and
rental segments of the market.
Please be assured that Finning is well prepared
for the unfolding opportunities of the new business
world and management is keenly aware of its responsibility
to deliver growth in shareholder value.
This year's annual meeting of shareholders will
be held at the Metro Toronto Convention Centre,
Toronto, Ontario on Thursday, May 10, 2001 at
11:00 a.m. Eastern Time.
Our annual report, which includes the consolidated
financial statements, the notice of meeting, the
management proxy circular and form of proxy, are
enclosed.
Sincerely,
FINNING INTERNATIONAL INC.
(signed)
Douglas W. G. Whitehead,
President and Chief Executive Officer
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