TORONTO, March 22 /CNW/ - Aecon Group Inc. (TSX: ARE) today announced
that its Construction and Materials division has been awarded a $49.1 million
contract to widen the median of Highway 407 northwest of Toronto between
Highway 427 and Highway 401.
The project will add two inside lanes along the 27 km stretch from
Highway 427 in the east to Highway 401 in the west, expanding the central
section of the highway and improving traffic flow during peak hours. This
follows a similar project that Aecon completed in 2006 to widen 407 ETR
between Highway 427 and Highway 404.
Aecon, one of the original partners in the development, design,
construction and operation of 407 ETR, will reconstruct the highway median and
perform the grading, drainage, hot mix paving and illumination work on the
Work on the project, which includes a very aggressive schedule and a
commitment to minimize traffic disruption as much as possible during
construction, is scheduled to be completed in September 2007.
"Aecon has worked on Highway 407 ETR since the beginning of construction
of the original 407 project in 1994, and we are pleased to have been awarded
this contract," said Teri McKibbon, President of Aecon's Civil and Utilities
Group. "This contract award highlights the confidence that clients like
407 ETR have in Aecon's ability to deliver challenging projects within
"This is good news for customers as more lanes mean faster trips," said
Antonio de Santiago, President and Chief Executive Officer of 407 ETR. "We're
proud of our reputation as a fast, safe, reliable highway and Aecon's
commitment to complete this project within our tight schedule requirements."
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. The Company's shares are listed for trading on the Toronto
Stock Exchange under the symbol ARE. www.aecon.com
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 generally described in Section
3.2 "Risk Factors" in the 2006 Annual Information Form available 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