BOUCHERVILLE, QC, April 21 /CNW Telbec/ - Canam Group Inc. (TSX: CAM)
announced today it will take an after-tax reserve of $25M for the first
quarter of fiscal year 2011 in connection with the additional costs for
the completion of the cables on the BC Place stadium retractable roof
The corporation believes this reserve represents the likely loss until
completion of the project, while adding that discussions to reduce the
impact of the reserve are ongoing with various project participants.
About Canam Group Inc.
Canam Group is a leader in the design and fabrication of construction
products and solutions and a leading provider of design-build and
building information modeling (BIM) services. The corporation operates
more than 25 manufacturing plants and engineering offices in Canada,
the United States, Romania, India and China, and has partnerships with
companies in Saudi Arabia, the United Arab Emirates and China.
SOURCE CANAM GROUP INC.
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