THE CONSORTIUM GLR-THIRO, G.P. IS GRANTED A CONTRACT
OF MORE THAN $57.0 M BY HYDRO-QUEBEC
DRUMMONDVILLE, QC, May 1 /CNW Telbec/ - CVTech Group Inc. ("CVTech" or
the "Company") (Toronto Stock Exchange: CVT) today announced that the
Consortium GLR-Thiro, G.P. ("GLR-Thiro") a general partnership, of which its
subsidiary Thiro ltée ("Thiro") holds a 50% interest, has been granted a
contract of more than $57.0 M by Hydro-Québec for the construction of the
Chénier-Outaouais 315 kV transmission line and for the relocation of the
Chénier-Vignan 315 kV transmission line.
The works are about the construction of 293 new lattice type towers on a
distance of 114.2 km and will take place starting on May 4, 2009 up until May
According to Guy Aubert, Vice-President, Electrical Lines and Clearance &
Pruning Division, about 350 employees will be assigned to the accomplishment
of the works.
OVERVIEW OF THE COMPANY
CVTech Group is a management company. Subsidiaries design, manufacture
and sell continuously variable power transmission systems, or CVTs. Another
subsidiary, Thiro ltée, constructs and maintains electrical power transmission
and distribution lines. It has two (2) wholly-owned subsidiaries: Thiro USA,
which provides the same services as Thiro ltée, and J.J.L. Déboisement inc.,
which specializes in vegetation control around distribution lines and clearing
the lines' rights-of-way. The subsidiary CVTech-AAB specializes in rebuilding
crankshafts and cylinders, as well as distributing engine parts. CVTech Group
currently has approximately 615 employees, distributed as follows: 165 in the
CVT systems and related products segment, and 450 in the electricity segment.
This document may contain certain forward-looking statements that reflect
management's current beliefs regarding future events. Forward-looking
statements are based on a number of factors and include risks and
uncertainties. Actual results may differ from forecast results. Management has
no obligation beyond what is required under the law to update or revise
forward-looking statements pursuant to new information or future events.
For further information regarding CVTech, the reader may consult the
SEDAR database as well as the company's web site at www.groupecvtech.com.
For further information:
For further information: André Laramée, MBA, President and Chief
Executive Officer, CVTech Group Inc., (819) 479-7771; Mario Trahan, CMA, Chief
Financial Officer, CVTech Group Inc., (819) 479-7771