TORONTO, Dec. 21 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that
its wholly-owned subsidiary, Innovative Steam Technologies (IST), has been
awarded two contracts totaling $17 million to design and supply an emissions
control system and four Once Through Steam Generator (OTSG) units.
Under the first contract, awarded by Waterbury Generation LLC of
Hartford, Connecticut, IST will supply a Selective Catalytic Reduction (SCR)
system and Carbon Monoxide (CO) reduction catalyst system, to be applied to
the exhaust of the new GE 96 MW gas turbine. This marks IST's first project to
supply an emissions control system to a client who does not require an OTSG
unit. The SCR system converts nitrogen oxide emissions into harmless nitrogen
and water, while the carbon system coverts carbon monoxide into carbon
dioxide. The system is scheduled to be delivered in August 2008.
In the second contract, awarded by Aksa Enerji Uretim A.S. located in
Turkey, IST will design and manufacture four OTSG units for a 240MW combined
cycle plant which is part of a larger 1000MW energy facility being built in
the city of Antalya. This will be IST's third project in Turkey and is
scheduled to be delivered in December 2008.
"We are extremely pleased to have been awarded these contracts," said Bob
Dautovich, President of IST. "The Waterbury contract represents a significant
new product line for IST, and the Aksa contract further cements our position
in an important part of the world market".
"It's been a very successful year for IST. We've sold 15 units - our
second highest sales total ever," Dautovich said. "This sets us up well for a
strong 2008, and brings our total sales to 122 OTSG units in 15 countries
Innovative Steam Technologies is the world leader in the design and
fabrication of once through steam generators and is a wholly owned division of
Aecon Group Inc. Aecon is Canada's largest publicly traded construction and
infrastructure development company. Aecon and its subsidiaries provide
services to private and public sector clients throughout Canada and
The information in this news release includes certain forward-looking
statements. These statements are based upon assumptions that are subject to
significant risks and uncertainties which are generally described in
Section 3.2 "Risk Factors" of Aecon's Annual Information Form available on
SEDAR at www.sedar.com. Although Aecon believes that the expectations
reflected in forward-looking statements are reasonable, it can give no
assurance that the expectations of any forward-looking statements will prove
to be correct.
For further information:
For further information: Mitch Patten, Vice President, Corporate
Affairs, Aecon Group Inc., (416) 297-2615, firstname.lastname@example.org, www.aecon.com