TORONTO, May 12 /CNW/ - Aecon Group Inc (TSX:ARE) announced today that
its Industrial Division has been awarded two construction contracts
from Union Gas totalling $26 million. Under the contracts, Aecon is
providing comprehensive construction services, including project
management, at two natural gas compressor stations wholly owned by
Union Gas Limited.
At the Lobo site, located near London, Ontario, Aecon is reworking and
expanding existing yard piping, as well as electrical and
instrumentation yard modifications and additions. Substantial
completion of the Lobo project is expected in October 2011.
At the Dawn J site, located near Chatham, Ontario, Aecon's scope
consists of a new compressor and driver package installation,
electrical, instrumentation and controls work. Fabrication of large
bore pipe spools for both sites will be performed at Aecon Industrial's
Cambridge facility. Completion of the Dawn J project is expected in
"Our relationship with Union Gas is a good example of Aecon's ability to
provide clients with one solution for their varied construction needs,"
said Ian Turnbull, President of Aecon Industrial, Central Canada
Division. "In addition to the compressor, piping and fabrication work
announced today, Aecon's various divisions also provide natural gas
service installations for Union Gas throughout Ontario, and have built
several local offices for them as well. This ability, along with our
shared commitment to providing a safe work environment, has made Union
Gas one of our longest standing clients."
Aecon Group Inc. is Canada's largest, publicly traded construction and
infrastructure development company. Aecon and its subsidiaries provide
services to private and public sector clients throughout Canada and on
a selected basis internationally. Aecon is pleased to be recognized as
one of the Best Employers in Canada as published by Maclean's Magazine.
The information in this press release includes certain forward-looking
statements. These "forward-looking" statements are based on currently
available competitive, financial and economic data and operating plans
but are subject to risks and uncertainties. In addition to general
global events outside Aecon's control, there are factors which could
cause actual results, performance or achievements to vary from those
expressed or inferred herein including risks associated with an investment in the common shares of Aecon and
the risks related to Aecon's business, including Large Project Risk and
Contractual Factors. Risk factors are discussed in greater detail in
the section on "Risk Factors" in the Annual Information Form filed on
March 30, 2011 and available at www.sedar.com. Forward-looking statements include information concerning possible or
assumed future results of operations or financial position of Aecon, as
well as statements preceded by, followed by, or that include the words
"believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should" or similar expressions. Important factors, in
addition to those discussed in this document, could affect the future
results of Aecon and could cause those results to differ materially
from those expressed in any forward-looking statements.
SOURCE Aecon Group Inc.
For further information:
Senior Vice President