EDMONTON, Aug. 14 /CNW/ - PowerComm Inc. (PCG:TSX) ("PowerComm" or the
"Company") announced today that the company had been awarded a contract to
provide electrical equipment and services for the Suncor Accommodation Complex
Project in Fort McMurray Alberta. The project is being managed by EllisDon
Construction Services Inc. of London, Ontario and is one of the most unique
ever undertaken in Northern Alberta.
The overall project is valued in excess of 205 million dollars. This
Project consists of an Amenities Building which is 73,000 square feet and will
incorporate an administrative / housing office, fitness facility, kitchen,
dining room, lounges, TV rooms and building maintenance area. It also consists
of building a complex which will be 284,000 square feet. It will have 15 wings
with each wing housing 100 rooms for a total of 1500 beds. The final phase
will be to build a parking lot to accommodate 600 vehicles.
Construction has begun with an anticipated completion by August, 2009.
The components awarded to PowerComm are valued at approximately
7.1 million dollars and work is expected to commence shortly. "This project is
truly exciting as it gives PowerComm an opportunity to be involved in a truly
"State of the Art" accommodation project," commented Larry Walton, PowerComm's
General Manager of Operations.
"This is a very exciting project for PowerComm to have been awarded,"
said Wayne Rutherford, President and CEO. "It is our first opportunity to work
with EllisDon, one of Canada's most highly respected companies," he continued.
"We have been with EllisDon before, but on the roster of winners as one of
'Canada's 50 Best Managed Companies,' so we are really thrilled to now be
working together," he concluded.
This contract brings PowerComm's backlog to in excess of $19 million, the
highest it has ever been.
The news release contains certain forward-looking statements, including
management's assessment of future plans and operations and capital
expenditures and the timing thereof, that involve substantial known and
unknown risks and uncertainties, certain of which are beyond PowerComm Inc.'s
control. Such risks and uncertainties include, without limitation, risks
associated with the Corporation's ability to market successfully to current
and new customers; supply and demand for PowerComm Inc.'s services and
products and industry activity levels; capital expenditure programs;
projections of commodity prices and costs; the Corporation's ability to obtain
material and equipment from suppliers; operating risk liability; expansion of
services and products by internal growth or acquisition; the Corporation's
ability to obtain additional financing on satisfactory terms; the impact of
general economic and industry conditions; changes in laws and regulations
(including the adoption of new environmental laws and regulations) and changes
in how they are interpreted and enforced; competitive conditions; the lack of
availability of qualified personnel or management; fluctuations in foreign
exchange or interest rates, stock market volatility; and obtaining required
approvals of regulatory authorities. PowerComm Inc.'s actual results,
performance or achievements could differ materially from those expressed in,
or implied by, these forward-looking statements and, accordingly, no
assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them do so,
what benefits, including the amount of proceeds, that PowerComm Inc. will
derive therefrom. Readers are cautioned that the foregoing list of factors is
not exhaustive. All subsequent forward-looking statements, whether written or
oral, attributable to PowerComm Inc. or persons acting on its behalf are
expressly qualified in their entirety by these cautionary statements.
Furthermore, the forward-looking statements contained in this news release are
made as of the date of this news release and PowerComm Inc. does not undertake
any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.
For further information:
For further information: Wayne R. Rutherford, President and Chief
Executive Officer or J.D. Snowdon, Executive Vice President Corporate Services
at (780) 465-7038 or at email@example.com