Questor Technology released its 2018 capital budget. The company is targeting $10 million on the continued expansion of the rental fleet, particularly in its core market of Colorado. The company expects approximately 90% of the budget will be focused on additional proprietary rental emission control equipment. The balance of the budget will be dedicated to support equipment and maintenance capital. Questor expects the majority of the new units will be fabricated and made available for use in the first half of 2018.
The budget will allow for continued preservation of the company’s balance sheet.
Questor intends to finance the $10 million of capital expenditures detailed above with cash on hand, cash flow from operations and, if necessary, from the new credit facilities provided by HSBC. The new facilities consist of a $5 million revolving capital loan facility and a $1 million operating loan facility.
Audrey Mascarenhas, Questor’s president and CEO, said, “The planned spending further demonstrates Questors’s commitment to high-performance emission control equipment, while responsibly allocating expansion capital to maximize shareholder returns”.
Calgary-based Questor is active in Canada, the U.S., Europe and Asia and is focused on clean air technologies that safely and cost effectively improve air quality, support energy efficiency and greenhouse gas emission reductions.
