CALGARY, April 8 /CNW/ - Suncor Energy Inc. today recognized the
achievement of a $1 billion goods and services spending milestone with
Aboriginal business partners in the Wood Buffalo region.
Suncor has been collecting data since 1992 on its spending with
Aboriginal companies in the Regional Municipality of Wood Buffalo near its oil
sands operations in northeastern Alberta. With Aboriginal business-related
spending of $220 million in 2008, the company surpassed a $1 billion goods and
services spending milestone with these companies.
Aboriginal owned and operated businesses have played a vital role in
helping Suncor develop the Athabasca oil sands resource. The businesses range
in scope and scale and include fuel distribution, maintenance, reclamation,
heavy equipment operation, tire shredding, manufacturing, and hotel and
"We're particularly proud of this milestone and appreciate our partner
companies' efforts in helping us make it a reality," said Rick George,
president and chief executive officer. "We've worked hard to build strong
mutually beneficial relationships with Aboriginal communities near our
operations. By tapping into the regional skills and experience of these
communities, we're making progress on a number of shared economic, social and
Suncor's successful partnership with Aboriginal companies is reflected in
its relationship with the Fort McKay Group of Companies. "Because of the
strong business relationship we've developed with Suncor, I believe we'll
continue to expand with future endeavors that will benefit Suncor, the
community of Fort McKay and the Fort McKay Group of Companies," explains
Frederick McDonald, CEO of Fort McKay Group of Companies.
Another partnership example is Aqua Industrial Ltd. Gerry Gionet,
President & CEO, is a local Métis entrepreneur who has built successful
business operations in Fort McMurray with a regional focus on business
development since 1996. Says Gionet: "My personal vision has always included
the betterment of the Aboriginal community at large in the Regional
Municipality of Wood Buffalo as well as the needs of the business community."
He adds: "I found that Suncor's vision was similar to mine in that respect. We
have built a strong relationship that has taught me better business practices,
and I use these skills and experience to be a mentor to others in the
Suncor's partnership with Aboriginal companies will also be recognized at
an upcoming Northeastern Alberta Aboriginal Business Association event in May.
This news release contains forward-looking statements identified by the
words "develop", "tapping", "progress", "goals", "continue", "expand",
"future" and similar expressions that address expectations or projections
about the future. Forward-looking statements are based on Suncor's current
goals, expectations, estimates, projections and assumptions made in light of
its experiences and the risks, uncertainties and other factors related to its
business. Assumptions used to develop our outlook are based on year-to-date
performance and management's best estimates for the remainder of the year.
Readers are cautioned that actual results could differ materially from those
expressed or implied as a result of changes to Suncor's plans and the impact
of events, risks and uncertainties discussed in Suncor's current annual
information form/form 40-F, annual and quarterly reports to shareholders and
other documents filed with Canadian securities commissions at www.sedar.com
and the United States Securities and Exchange Commission (SEC) at www.sec.gov.
Suncor Energy Inc. is an integrated energy company headquartered in
Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray,
Alberta, extracts and upgrades oil sands and markets refinery feedstock and
diesel fuel, while operations throughout western Canada produce natural gas.
Suncor operates a refining and marketing business in Ontario with retail
distribution under the Sunoco brand. U.S.A. downstream assets include pipeline
and refining operations in Colorado and Wyoming and retail sales in the Denver
area under the Phillips 66(R) brand. Suncor's common shares (symbol: SU) are
listed on the Toronto and New York stock exchanges.
Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Phillips
66(R) brand and marks in the state of Colorado. Sunoco in Canada is separate
and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc.
For further information:
For further information: about Suncor Energy Inc. please visit our web
site at www.suncor.com; For media inquiries, contact: Shawn Davis, (403)