Mullen Spending on Equipment to Stay Competitive

OKOTOKS, AB. — Mullen Group announced yesterday its capital budget for 2013, setting the predicted spend at $80 million, most of which will go to new trucks, trailers and specialized equipment. That’s down $23 million from last year.

Mullen said that its Board of Directors looked at various economic issues, commodity pricing predictions and forecasted drilling activity for the Western Canadian Sedimentary Basin, during the approval process of its capital budget.

Mullen’s Trucking/Logistics segment will get $25 million of the $80 million, with $55 million going towards its Oilfield Services segment.

Mullen’s chairman and CEO, Murray Mullen, said that he was pleased the Board accepted the Senior Executive Team’s recommendation. Chairman and Chief Executive Officer.

“This capital will ensure that our Business Units can remain competitive in what I can summarize as a very challenging market,” he said. “These investments, among other things, will enhance our business units’ service offerings to our customers, improve our direct operating expenses and support our human resource strategy and recruiting initiatives.”