- Contract is the third largest ever awarded by MTO -
TORONTO, Aug. 11 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that
it has been awarded a $105 million contract by the Ontario Ministry of
Transportation (MTO) to reconstruct and widen a 15 km stretch of Highway 401
near Woodstock, Ontario. It is the third largest contract MTO has ever
awarded, and the largest MTO contract Aecon has received.
Under the contract, Aecon will reconstruct 15.3 km of Highway 401 just
east of Woodstock, including rehabilitation of seven bridge structures,
installation of a concrete median barrier, and expansion of the highway from
four lanes to six.
Aecon is the general contractor, and will self perform most of the work
on the project, including all of the grading and granular work, sewer
placement, barrier installation and bridge rehabilitation work. Paving work
will be done through a joint venture with Capital Paving Inc. of Guelph,
The project involves almost 700,000 cubic metres of earth excavation,
1.2 million tonnes of granular base, 400,000 tonnes of asphalt, and
12,500 cubic metres of concrete. Work on the project has already begun and is
scheduled to be completed in the fall of 2011.
"MTO has been a valued customer of Aecon's for over 75 years, and we are
very pleased to be awarded this contract, which is the largest project we have
ever done for the MTO," said Teri McKibbon, CEO of Aecon's Infrastructure
group. "We look forward to continuing our longstanding relationship with MTO
as we complete this important contract."
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
internationally. Aecon is pleased to be recognized as one of the 50 Best
Employers in Canada as published by Report on Business Magazine.
The information in this news release includes certain forward-looking
statements. These statements are based upon assumptions that are subject to
significant risks and uncertainties which are discussed in greater detail in
the section entitled "Risk Factors and Uncertainties" in Management's
Discussion and Analysis of operating results and Financial Condition for the
year ended December 31, 2007 filed on SEDAR at www.sedar.com. Although Aecon
believes that the expectations reflected in forward-looking statements are
reasonable, it can give no assurance that the expectations of any
forward-looking statements will prove to be correct.
For further information:
For further information: Mitch Patten, Vice President, Corporate
Affairs, Aecon Group Inc., (416) 297-2615, firstname.lastname@example.org, www.aecon.com