CVTech Group Inc. obtains two contracts from Hydro-Québec totalling $14.1 million

DRUMMONDVILLE, QC, July 10, 2012 /CNW Telbec/ - CVTech Group Inc. ("CVTech" or "the Corporation") (TSX: CVT) today announced that its subsidiary Thirau ltée (Thirau), has been awarded two new contracts by Hydro-Québec with a total value of $14.1 million. These contracts are mainly related to the construction of electricity transmission and distribution lines in the province of Quebec. Work associated with both contracts should start over the next few days.

The first contract, valued at more than $6.3 million, is part of the vast Romaine hydroelectric complex on Quebec's North Shore. This contract is the third awarded to Thirau in connection with this large-scale project. Under the terms of the agreement, Thirau will build a 34.5-kV, 33-kilometer overhead distribution network to supply electricity to the Romaine III camp. Work should extend until the end of October 2012. Approximately 40 employees should be assigned to the project.

The second contract, valued at $7.8 million, is with regards to the construction of a 230-kV, double-circuit steel line for the addition of a second power supply to the Francheville substation and the dismantling of two circuits. Work should extend for a period of approximately 12 months and it is anticipated that about 60 employees will carry out the work.

"Since the start of 2012, Thirau has won contracts valued at over $72 million. This clearly highlights CVTech's leading position and expertise in the Energy sector. Quebec is investing like never before in its electrical infrastructures and we are favourably positioned to capitalize on all business opportunities that may arise in this sector," declared André Laramée, President and Chief Executive Officer of CVTech.

OVERVIEW OF THE CORPORATION
CVTech is a management company operating in two sectors. Through Thirau ltée and its subsidiaries Riggs Distler Inc. and Thirau LLC, the Corporation provides services to the electric power industry for the maintenance of transmission and distribution lines, primarily in Quebec, Ontario and the eastern United States. Another Thirau ltée subsidiary, J.J.L. Déboisement inc., specializes in control of vegetation surrounding power lines and in clearing rights of way. Thirau LLC's wholly owned subsidiary Riggs Distler & Company, Inc. is a leading provider of maintenance and construction services to the utility and heavy industrial markets. In the CVT Systems and Related Products Segment, the Corporation, through CVTech-IBC Inc., designs, manufactures and sells continuously variable power transmission systems, or CVT systems. CVTech-AAB Inc. specializes in rebuilding crankshafts and cylinders and in distributing engine parts.

FORWARD-LOOKING STATEMENTS
This document may contain forward-looking statements that reflect management's current expectations regarding future events. Forward-looking statements are based on a number of factors and include risks and uncertainties. Actual results may differ from forecast results. Management has no obligation beyond what is required under the law to update or revise forward-looking statements pursuant to new information or future events.

Further information regarding CVTech is available in the SEDAR database (www.sedar.com) and on the Corporation's website at www.cvtech.ca.

SOURCE CVTECH GROUP INC.

For further information:

Source: CVTech Group Inc.

Contacts:
André Laramée, MBA 
President and Chief Executive Officer 
(819) 479-7771 
a.laramee@cvtech.ca 

Mario Trahan, CMA 
Chief Financial Officer 
(819) 479-7771 
m.trahan@cvtech.ca 

MaisonBrison Communications
Martin Goulet, CFA
(514) 731-0000 
martin@maisonbrison.com

Profil de l'entreprise

CVTECH GROUP INC.

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