DRUMMONDVILLE, QC, Jan. 31, 2012 /CNW Telbec/ - CVTech Group Inc.
("CVTech" or the "Corporation") (TSX: CVT) today announced that its
subsidiary Thirau ltée has obtained, under an extension option, the
renewal of a major contract for the construction, maintenance and
modification, on demand, of overhead distribution networks in
Hydro-Québec's Montreal and Richelieu territories. The one-year
extension is for calendar 2012. Its value is estimated at $13.0 million
and approximately 100 employees will carry out the work.
"The renewal of this contract illustrates our solid business
relationship with Hydro-Québec as well as its high degree of
satisfaction with our services," said André Laramée, CVTech President
and Chief Executive Officer.
OVERVIEW OF THE CORPORATION
CVTech is a management company operating in two major sectors. Through
Thirau ltée and its subsidiary Thirau LLC, the Corporation provides
services to the electric power industry for the maintenance of
transmission and distribution lines, primarily in Quebec and the
eastern United States. Another Thirau ltée subsidiary, J.J.L.
Déboisement inc., specializes in control of vegetation surrounding
power lines and in clearing rights of way. Thirau LLC's wholly owned
subsidiary Riggs Distler & Company, Inc. is a leading provider of
maintenance and construction services to the utility and heavy
industrial markets. In the CVT systems and related products segment,
the Corporation, through CVTech-IBC Inc., designs, manufactures and
sells continuously variable power transmission systems, or CVT systems.
CVTech-AAB inc. specializes in rebuilding crankshafts and cylinders and
in distributing engine parts.
This document may contain forward-looking statements that reflect
management's current expectations 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.
Further information regarding CVTech is available in the SEDAR database
(www.sedar.com) and on the Corporation's website at www.cvtech.ca.
SOURCE CVTECH GROUP INC.
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Source: CVTech Group inc.