LISTING: TORONTO STOCK EXCHANGE
TORONTO, Feb. 5 /CNW/ - Bird Construction Income Fund ("Fund") announced
that its Board of Trustees has approved its regular cash distribution for the
months of February and March 2009, in the amount of $0.1209 per unit, to be
paid on March 20, 2009 and April 20, 2009, respectively, to unitholders of
record at the close of business on February 27, 2009 and March 31, 2009,
In addition, the Fund announced that it will begin winding down its
Seattle, Washington Branch immediately and will close it in late-2009 upon
completion of its current contracts. The Fund will maintain operational
capabilities in the Washington market until 2010 to complete its warranty
obligations. Management has made the decision to close the Seattle Branch due
to an inability to generate the expected financial results and in order to
refocus its senior management resources on opportunities in the Canadian
market. Management does not believe that the closing of the Seattle Branch
will have a material impact on the results of operations of the Fund, nor is
it expected to affect the Fund's ability to maintain distributions.
Bird Construction provides general contracting, construction management
and design-build services to institutional, commercial, industrial and
residential sectors from offices in Calgary, Edmonton, Halifax, Saint John,
Toronto, Vancouver and Winnipeg.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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