TORONTO, Sept. 9, 2014 /CNW/ - Aecon Group Inc. (TSX: ARE) announced
today that it has been awarded a $156 million contract by the Ontario
Ministry of Transportation (MTO) to widen Highway 410 in Peel Region.
To be booked in the third quarter as backlog, Aecon previously
announced this Infrastructure contract in its second quarter results
The work includes grading, drainage, paving, electrical work, widening
and repairing bridge structures, construction of new ramps, as well as
updating the advanced traffic management system along Highway 410 from
south of Highway 401 to Queen Street in Brampton.
"Highway 410 is a major traffic artery for motorists in the Greater
Toronto Area," said Teri McKibbon, Aecon's President and Chief
Executive Officer. "Aecon has a long history of developing highway
projects across Ontario and we are pleased to be selected by the MTO to
complete road work and additional upgrades along this key
The project will begin in the third quarter of 2014 and is expected to
be complete by the fourth quarter of 2018.
Aecon Group Inc. is a Canadian leader in construction and infrastructure
development providing integrated turnkey services to private and public
sector clients. Aecon is pleased to be consistently recognized as one
of the Best Employers in Canada.
The information in this press release includes certain forward-looking
statements. These "forward-looking" statements are based on currently
available competitive, financial and economic data and operating plans
but are subject to risks and uncertainties. In addition to events
beyond Aecon's control, there are factors which could cause actual or
future results, performance or achievements to differ materially from
those expressed or inferred herein including, but not limited to: the
timing of projects, unanticipated costs and expenses, general market
and industry conditions and operational and reputational risks,
including Large Project Risk and Contractual Factors. Readers are
referred to the specific risk factors relating to and affecting Aecon's
business and operations as filed by Aecon pursuant to applicable
securities laws. Forward-looking statements may include, without
limitation, statements regarding the operations, business, performance,
prospects, strategies and outlook for Aecon. Forward-looking
statements, may in some cases be identified by words such as "will,"
"plans," "believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should" or the negative of these terms, or similar
expressions. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are
made and Aecon undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new information,
future events or otherwise.
SOURCE: Aecon Group Inc.
For further information:
Senior Vice President, Corporate Affairs
Aecon Group Inc.