Aecon JV awarded $146 million power contract

TORONTO, Sept. 9, 2015 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that an Aecon joint venture has been awarded a $146 million power contract in Ontario.  

The scope of the project involves engineering, procurement, construction and commissioning work. Work has begun and is expected to be complete in the second half of 2017. 

"This contract marks the award of yet another major energy project on top of our notable portfolio of work," said Teri McKibbon, President and Chief Executive Officer, Aecon Group Inc. "The scope of work reinforces both Aecon's ability to deliver comprehensive integrated turnkey services and the diversification of our energy portfolio." 

Aecon Group Inc. is a Canadian leader in construction and infrastructure development providing integrated turnkey services to private and public sector clients. Aecon is pleased to be consistently recognized as one of the Best Employers in Canada.

The information in this press release includes certain forward-looking statements. These "forward-looking" statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties.  In addition to events beyond Aecon's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to: the timing of projects, unanticipated costs and expenses, general market and industry conditions and operational and reputational risks, including Large Project Risk and Contractual Factors. Readers are referred to the specific risk factors relating to and affecting Aecon's business and operations as filed by Aecon pursuant to applicable securities laws.  Forward-looking statements may include, without limitation, statements regarding the operations, business, performance, prospects, strategies and outlook for Aecon.  Forward-looking statements, may in some cases be identified by words such as "will," "plans," "believes," "expects," "anticipates," "estimates," "projects," "intends," "should" or the negative of these terms, or similar expressions.  Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Aecon Group Inc.

For further information: David Smales, EVP and Chief Financial Officer, Aecon Group Inc., 416-297-2619, dsmales@aecon.com, www.aecon.com

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