TSX: LH
EDMONTON, May 26 /CNW/ - Lockerbie & Hole Inc. ("Lockerbie") announced
today that its Infrastructure group has been awarded a cost reimbursable
contract by Stuart Olson Constructors Inc., part of The Churchill Corporation,
to act as the mechanical construction manager on the new Remand Centre in
Edmonton, Alta. The value of the contract is estimated at $70 million.
In addition to providing mechanical construction management services for
the entire project, Lockerbie will self-perform the scope of work that
includes the installation of domestic water systems, storm and sanitary
drainage systems, and underground utilities.
The facility is being built in the city's northwest and will replace the
27-year-old existing Remand Centre located in downtown Edmonton. The overall
budget for the project is $620 million. When complete, the facility will house
up to 2,000 inmates.
About Lockerbie & Hole
Lockerbie was founded in 1898 and is one of the largest mechanical
construction contractors in Canada. Lockerbie is a multi-disciplined
contractor providing mechanical, electrical, instrumentation, pipe
fabrication, module assembly, boiler erection, insulation and civil
construction services primarily to the oil sands, mining, institutional,
municipal and commercial market sectors. Lockerbie is headquartered in
Edmonton, Alta.
Forward Looking Statements
This press release contains statements concerning Lockerbie's
assumptions, information or statements about future events or conditions that
may constitute forward-looking statements or information under applicable
securities legislation. Such forward-looking statements or information are
based on a number of assumptions, which may prove to be incorrect. Assumptions
have been made regarding, among other things, the continuation and completion
of the projects forming Lockerbie's backlog, and general economic, business
and market conditions. Although Lockerbie believes that the expectations
reflected in such forward-looking statements or information are reasonable,
undue reliance should not be placed on forward-looking statements because
Lockerbie can give no assurance that such expectations will prove to be
correct. The forward-looking statements are based on Lockerbie's current
expectations, estimates and projections, and are subject to a number of
significant risks and uncertainties that could cause actual results to differ
materially from those anticipated. Such risks and uncertainties include, among
others, Lockerbie's ability to be retained for existing and new project work
by existing and new clients, Lockerbie's ability to retain and hire qualified
personnel required, oil and gas prices, the delay or cancellation of projects
forming Lockerbie's backlog, general economic, business and market conditions
and other risks as are detailed from time to time in continuous disclosure
filings of Lockerbie. Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking statements
prove incorrect, actual results may vary materially from those described
herein as anticipated, believed, estimated or expected. These forward-looking
statements are made as of the date of this press release, and Lockerbie
assumes no obligation to update or revise them to reflect new events or
circumstances, except as required by applicable laws.
%SEDAR: 00025533E
For further information: Gordon L. Panas, President & Chief Executive
Officer, Michael G. Slapman, Chief Financial Officer, Telephone: (780)
452-1250, Fax: (780) 452-1284, website: www.lockerbiehole.com
