CALGARY, Dec. 4, 2013 /CNW/ - Petrowest Corporation ("Petrowest" or the "Company") announces that it has been awarded an additional two custom crushing
sub-contracts on the expansion of Highway 63, the main highway
connecting Edmonton to Fort McMurray, Alberta. The value of the new
contracts is estimated to be $26 million in total.
In addition, the Corporation announced that the scope of work of its
previously-announced (August 13, 2013) aggregate crushing contract has
been reduced from $13.5 million to approximately $9 million.
The Civil division now has a total of three sub-contracts on Highway 63
totalling approximately $35 million. Most of this work is required to
be completed by the end of the first quarter of 2014 and is commencing
"This is the largest commitment of crushing work for winter completion
in the Company's history" said Rick Quigley, CEO, "it will certainly
give us a great start to our next fiscal year."
Certain of the statements made and information contained herein,
including the value of the contract awards, is "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking statements are subject to a variety of
risks and uncertainties which could cause actual events or results to
differ from those reflected in the forward-looking statements,
including, without limitation, risks and uncertainties relating to
unanticipated difficulties with or shortages of labour or interruptions
in operations; the inherent uncertainty of cost estimates; and other
risks and uncertainties, including those described under risk factors
in the Company's current Annual Information Form and management
discussion and analysis. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in
forward-looking statements. The forward-looking information contained
herein is presented for the purpose of assisting investors in
understanding the Company's plans and objectives and may not be
appropriate for other purposes. Accordingly, readers are advised not
to place undue reliance on forward-looking statements.
Petrowest is an Alberta corporation involved in pre-drilling and
post-completion energy services as well as industrial and civil
infrastructure projects, gravel crushing and hauling for non-energy
sector customers. Petrowest's primary operations are based in the
Grande Prairie area of northern Alberta and in northeastern British
SOURCE: Petrowest Corporation
For further information:
For further information, please contact Richard Quigley, President and Chief Executive Officer, at (780) 830‐0881, or Ian Hogg, Vice President, Corporate Affairs, at (403) 384-0407, or Lloyd Wiggins, Chief Financial Officer, at (416) 572-2160, or info@petro‐west.com.