Its Official!

Sold!

By RENATO GANDIA
Today staff
Tuesday May 02, 2006

Fort McMurray Today — A longtime Fort McMurray company that provides heavy equipment for construction and mining has been sold to Calgary-based CEDA International Corp.CEDA bought L. Robert Enterprises, effective Sunday.

Leo Robert, who started his company in 1980, provided heavy equipment, truck repairs, welding services, equipment rentals and parts sales to a wide range of industries, including oil and gas, forestry, construction, and mining.

“It was an opportunity for growth for both CEDA and the L Robert Group,” L. Robert group of companies spokesman Blake Robert said this morning.

“We felt that it’s the time to make that move.”

The company has more than 300 employees, who will all be absorbed by the new owner. The L. Robert business will operate as a stand-alone business unit under general manager Gary Ritchie, a 14-year veteran of L. Robert Enterprises.

In terms of operations and structure nothing will change, said a news release this morning, citing L. Robert Enterprises’ “exemplary reputation for quality work and an industry-leading track record for employee safety and customer satisfaction.”

“The acquisition of L. Robert Enterprises is a perfect strategic fit for CEDA. The acquisition adds another complementary product line to our portfolio of services to the benefit of all of our customers,” Randy Boomhour, vice-president of finance and chief financial officer, told Today this morning. “CEDA is dedicated to the goal of being recognized as the premier industrial services contractor in northern Alberta,” he said.

With the acquisition of the L. Robert business, CEDA International’s employee base grows from approximately 1,800 to 2,100 employees.

This acquisition recognizes a growing customer preference to contract with larger industrial maintenance companies with a strong financial profile and a more comprehensive scale of operations to handle large projects, according to the release.

“Customers have historically rewarded both CEDA International and L. Robert for consistently delivering quality, fairly priced products and services while upholding the highest safety standards,” said the release.