EDMONTON, AB, Nov. 5 /CNW/ - The Churchill Corporation (TSX: CUQ)
announces that Stuart Olson Constructors has been selected as Construction
Manager to build Edmonton's New Remand Centre by Alberta Infrastructure and
Transportation. The total construction budget as approved by the Province of
Alberta's Treasury Board is $620 million. Stuart Olson's expected revenue from
this project is approximately $523 million.
The project involves the construction of a 2 storey development of
approximately 56,500 square metres and will cover a site of over 16 hectares.
It will be designed to accommodate approximately 2,000 male and female
inmates. Site preparation and earthworks began in October 2007 and
construction of the seven "podular" 3-tier housing units is expected to begin
in the spring of 2008; taking approximately 5 years to complete. This award
will be added to Stuart Olson's published work-in-hand balance as the
contracts necessary to complete a project of this magnitude are finalized and
responsibility is assumed.
It is Churchill's policy to announce only those new awards or contracts
that constitute a material change.
The Churchill Corporation provides building construction, industrial
construction and maintenance services throughout western Canada. Churchill
common shares are listed on The Toronto Stock Exchange under the symbol "CUQ".
FORWARD LOOKING STATEMENTS
Certain statements in this Press Release may constitute "forward-looking
statements". Although management of Churchill believes its expectations
regarding future performance of the Corporation are based on reasonable
assumptions and currently available competitive, financial and economic data,
market conditions and operating plans, it can give no assurance its
expectations will be achieved. Such forward-looking statements involve risk,
uncertainties and other factors that might cause the actual results,
performance or achievements of the Corporation to vary significantly from any
future results, performance or achievements expressed or implied in any
For further information:
For further information: Peter F. Adams, Ph.D., P.Eng., Chairman and
Interim Chief Executive Officer, The Churchill Corporation, (780) 454-3667,