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Tornado Global Hydrovacs ( (TSE:TGH) ) has issued an update.
Tornado Infrastructure Equipment Ltd., through its subsidiary Custom Vacuum Services Ltd., has entered into a private label manufacturing agreement with Ascend Hydrovacs Inc. Under this agreement, CustomVac will manufacture hydrovac units exclusively for Ascend, generating an estimated CAD$88.2 million in revenue over four years. This partnership highlights CustomVac’s position as a leading original equipment manufacturer and is expected to enhance operational efficiencies with the completion of a new manufacturing facility in Red Deer. The collaboration is set to strengthen Tornado’s market positioning and expand its capabilities in the hydrovac industry.
The most recent analyst rating on (TSE:TGH) stock is a Buy with a C$1.65 price target. To see the full list of analyst forecasts on Tornado Global Hydrovacs stock, see the TSE:TGH Stock Forecast page.
More about Tornado Global Hydrovacs
Tornado Infrastructure Equipment Ltd. is a leader in the vacuum truck industry, designing and manufacturing hydrovac trucks for utility and oilfield professionals. The company provides heavy-duty truck maintenance operations in central Alberta and sells hydrovac trucks to excavation service providers in the infrastructure, industrial construction, and oil and gas markets. Hydrovac trucks use high-pressure water and vacuum to safely expose critical infrastructure for repair and installation, a method becoming standard in North America.
Average Trading Volume: 151,513
Technical Sentiment Signal: Buy
Current Market Cap: C$252.7M
Learn more about TGH stock on TipRanks’ Stock Analysis page.