Churchill's General Contracting Segment Awarded $117 million of New Contracts in Western Canada

CALGARY, May 25, 2011 /CNW/ - The Churchill Corporation (TSX: CUQ, CUQ.DB) ("Churchill" or the "Corporation") today reported that Stuart Olson Dominion Construction Ltd. ("SODCL"), its general contracting segment, has been awarded numerous new contracts by public and private sector clients in Western Canada.

In British Columbia, SODCL has been appointed construction manager of a project, valued at $55 million, for expansion and revitalization of the Vancouver Aquarium, Canada's largest aquarium located in Vancouver's Stanley Park. Construction is expected to start in the fall of 2011 with project completion expected in three to four years.

In Alberta, SODCL has been awarded contracts for the construction of a post-secondary education building in Lethbridge and a seniors' home in Calgary with a combined value of $33 million. Both projects are expected to begin construction in late 2011 and to be completed in mid-2013.

In Saskatchewan, SODCL has recently been awarded over $22 million of new projects, including a big-box store, a high school project and a hotel renovations project. Construction has started on these projects with completion of the store and the hotel expected in the first quarter of 2012. The high school is expected to be ready in time for the 2012/2013 school year.

In Manitoba, a recent award is the $7 million Standard Aero cold weather jet engine Research Development Test Centre at Winnipeg International Airport. The project is currently under construction with completion expected by late fall.

"We are pleased to see Stuart Olson Dominion's project teams regularly winning substantial projects," said Jim Houck, Churchill's CEO. "This announcement, along with the $185 million of new projects announced in March, demonstrates the ability of SODCL's larger organization to continually grow its backlog with high quality projects."

About The Churchill Corporation

The Churchill Corporation provides building construction, commercial and industrial electrical contracting, earthmoving and industrial insulation services to an array of public and private sector clients. Churchill operates office locations throughout British Columbia, Alberta, Saskatchewan, Manitoba, northwest Ontario and the Yukon. Churchill common shares and convertible debentures are listed on the Toronto Stock Exchange under the symbols "CUQ" and "CUQ.DB", respectively. www.churchillcorporation.com

Forward Looking Information
Certain statements in this Press Release may constitute "forward-looking statements". Forward-looking statements include, without limitation, statements regarding the future financial position, business strategy, budgets, litigation, projected costs, capital expenditures, financial results, taxes, plans and objectives of the Corporation. Many of these statements can be identified by looking for words such as "believes," "expects," "may," "will," "intends," "anticipates," "estimates," "continues," or the negative thereof, or other variations thereon. Although management of Churchill believes its expectations regarding future performance of the Corporation are based on reasonable assumptions and currently available competitive, financial and economic data, market conditions and operating plans, it can give no assurance its expectations will be achieved. The Corporation cautions that, by their nature, forward-looking statements, involve risks, and uncertainties and that its actual actions, and/or results could differ materially from those expressed or implied in such forward-looking statements, and that the aforementioned risks, uncertainties and actions could affect the extent to which a particular projection materializes. The Corporation assumes no obligation to update the forward-looking statements should circumstances or the Corporation's management's estimates or opinions change, except as may be required by law. 

SOURCE The Churchill Corporation

For further information:

Andrew Apedoe
Vice President Investor Relations & Secretary
The Churchill Corporation
(403) 685-7775
Email: inquiries@churchill-cuq.com
            Ken Wetherell, CFA
Director, Investor Relations
The Churchill Corporation
(403) 685-7776
Email: inquiries@churchill-cuq.com

 

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The Churchill Corporation

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