Named 2005 Award of Merit recipient by Canadian American Business Council
(Fort McMurray, Alberta) – Syncrude Canada Ltd., Caterpillar Inc., and Finning (Canada)’s collaborative work to develop technologically advanced mining equipment for the oil sands industry was recognized at the Canadian American Business Council awards luncheon in Calgary on Tuesday, November 8th, 2005.
The long-term relationship between Syncrude, Caterpillar and Finning and joint efforts by the companies to develop heavy equipment capable of withstanding the rigors of oil sands mining in a safe, environmentally sound and cost effective manner, was recognized with the 2005 Award of Merit by the Canadian American Business Council. Notable examples of this innovative work include significant contributions toward the development of Caterpillar’s 400-ton, 797B off-highway truck, the largest mining truck in the world. In addition, numerous projects enhancing and improving Caterpillar products have resulted in significant reductions in operating costs for Syncrude as well as dramatic increases in productivity in the oil sands region.
Syncrude is pleased to receive this award because it highlights our ongoing efforts to build strong business relationships with our suppliers and foster the sustainability and growth of the entire oil sands industry.
Jim Carter
President and Chief Operating Officer
Chris Curfman, President of Caterpillar Global Mining said, “Caterpillar is honored to receive this award which recognizes product innovation, lower operating costs, increased productivity, and work-place safety improvements in the oil sands region which have come about as the result of the unique cross-border relationship between Caterpillar, Finning and Syncrude.”
Ian Reid, President of Finning (Canada) added, “Finning’s Canadian team is proud to be recognized for its innovative partnership with Cat, the world’s best heavy equipment manufacturer and the skilled team at Syncrude that has led to the to development of world class mining equipment solutions designed to address the unique needs of the Canadian oil sands.”
A panel of international judges conferred the prestigious award based on such standards as job creation, financial strength, environmental responsibility, corporate synergy, exceptional imagination and remarkable innovation. These awards, now in their 11th year, recognize and promote the positive contributions of innovative cross-border business partnerships.
The Syncrude Project is a joint venture operated by Syncrude Canada Ltd. and owned by Canadian Oil Sands Limited, ConocoPhillips Oilsands Partnership II, Imperial Oil Resources, Mocal Energy Limited, Murphy Oil Company Ltd., Nexen Inc., and Petro-Canada Oil and Gas.
Trading Symbols for Public Syncrude Joint Venture Owners:
| Canadian Oil Sands Trust (via Canadian Oil Sands Limited and Canadian Oil Sands Limited Partnership) | COS.UN-TSX |
| ConocoPhillips Oilsands Partnership II (wholly owned by ConocoPhillips) | COP-NYSE |
| Imperial Oil Resources | IMO-TSX/AMEX |
| Murphy Oil Company Ltd. | MUR-NYSE |
| Nexen Inc. | NXY-TSX/NYSE |
| Petro-Canada | PCA-TSX/PCZ-NYSE |
About Syncrude:
Syncrude Canada Ltd. is the world?s largest producer of crude oil from oil sands and the largest single source producer in Canada, currently supplying 13 per cent of the nation?s crude oil requirements. Our mission is to create wealth for our stakeholders from Canada?s oil sands through the 21st century by safely, reliably and profitably producing high quality crude oil and other products in an environmentally and socially responsible manner.
About Caterpillar:
For 80 years, Caterpillar Inc. has been building the world’s infrastructure and, in partnership with its worldwide dealer network, is driving positive and sustainable change on every continent. With 2004 sales and revenues of $30.25 billion, Caterpillar Inc. is a technology leader and the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.
About Finning:
Finning International Inc. is one of the world’s largest Caterpillar equipment dealers. The Company sells, rents, finances and provides customer support services for Caterpillar equipment and engines in Western Canada, the U.K., and South America (Argentina, Bolivia, Chile and Uruguay). Finning also owns Hewden, the largest equipment rental business in Europe. Headquartered in Vancouver, British Columbia, Canada, Finning International Inc. is a widely held, publicly traded corporation, listed on the Toronto Stock Exchange (symbol FTT). For additional information please visit our website at www.finning.com.
