Contract of more than $57.0 m in a joint venture for CVTech Group Inc.



    
             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
28, 2010.
    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.

    FORWARD-LOOKING STATEMENTS

    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.
    %SEDAR: 00021045EF




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

Organization Profile

NAPEC Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890