McCoy Bros. sells selected parts centres to UAP
EDMONTON, Alta. – McCoy Bros. has sold its struggling wholesale and retail parts centres in Edmonton, Red Deer and Calgary to Montreal-based UAP, and will now focus on truck sales and service and specialized manufacturing.
Through the deal, UAP’s TW/Traction divisions will purchase McCoy’s inventory of heavy-duty truck parts, and UAP will withdraw from on-vehicle truck service work in the effected centres.
Falling margins and intense competition had overshadowed McCoy’s service and manufacturing businesses, the company said in a press release explaining the sale.
McCoy Bros. will continue to operate service and parts operations in Grande Prairie, Alta. and Prince Albert, Sask. through its existing International truck dealerships, and through its McCoy South operation in Lethbridge, Alta.
The news doesn’t bode well for all existing employees in the parts organization, however. The sale has led to 130 job losses, although 40 of these employees have found other jobs with McCoy and UAP. n
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