McCoy Bros. names Rakievich president and CEO; Dominy to step down

EDMONTON (Oct. 10, 2002) — Truck parts manufacturer McCoy Bros. yesterday named Jim Rakievich president and chief executive officer, succeeding David Dominy.

Dominy is leaving to pursue other interests, said the company.

Rakievich has been with McCoy Bros. for the past six years, serving as chief operating officer since February 2001.

The company also announced that it plans to relocate its Edmonton truck and trailer service operation to new premises early next year. The new facility will have easier access for large rigs and will house state-of-the art equipment for frame straightening, brakes, and diagnostic services, the company said.

McCoy Bros. services and sells trucks and the produces springs, axles, trailers, and oilfield products. It has three facilities in Edmonton as well as operations in Grande Prairie and Red Deer, Alta., and Rancho Cucamonga, Calif.

The company’s shares are traded on the Toronto Stock Exchange under the symbol MCB. Through the first six months of 2002, McCoy Bros. suffered a net loss of $356,282 compared with net earnings of $275,898 during the same period the year before. The company attributed its troubles to depressed drilling activity in the Alberta oilpatch and reduced demand for McCoy’s manufactured products.