TORONTO STOCK EXCHANGE SYMBOL: BDT.UN
TORONTO, Dec. 23 /CNW/ - Bird Construction Income Fund announces it has been awarded a fixed price construction contract with Defence Construction Canada for the construction of the Electrical and Mechanical Engineering and Transportation Garage at CFB Trenton, in Ontario. The project will commence immediately and is expected to be complete within two years.
Bird has also been awarded a design-build fixed price contract for the construction of the Mississauga Campus Phase 1 for Sheridan College in Mississauga, Ontario. Design work has commenced and construction is expected to be completed by mid-2011.
The above two Toronto Branch awards will add approximately $70 million to the Fund's backlog in the fourth quarter of 2009.
On July 29th, Bird announced that the Company had been awarded a contract to construct the Northern Rockies Regional Recreational Centre project in the town of Fort Nelson, British Columbia and that the contract was being awarded in phases and was subject to the final estimated costs meeting the project budget. The Northern Rockies Regional Municipality has now approved all phases of construction. The project value is approximately $41 million and is included in the Fund's third quarter 2009 backlog.
On December 12, 2008, Bird announced that a contract to build six buildings located at the Fort Hills north oil sands location near Fort McMurray, Alberta had been deferred. The Company has been notified that Petro-Canada Oils Sands Inc., acting as operator for the Fort Hills Energy L.P., has elected to terminate the building contract. Under the termination for convenience provisions of the contract, Bird is entitled to payment for work completed to date only. Approximately $107 million will be removed from Bird's backlog in the fourth quarter of 2009.
This press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Bird Construction Income Fund
For further information: For further information: P.R. Raboud, President and C.E.O. or S.R. Entwistle, C.F.O. Bird Construction Company Limited as Administrator of Bird Construction Income Fund, 5403 Eglinton Avenue West, Toronto, ON, M9C 5K6, Phone: (4l6) 620-7122, Fax: (416) 620-1516