CVTech Group inc. obtains Hydro-Québec contracts valued at approximately $29.0 million

DRUMMONDVILLE, QC, Dec. 17, 2012 /CNW Telbec/ - CVTech Group Inc. ("CVTech" or "the Corporation") (TSX: CVT) today announced that its subsidiaries have been awarded three contracts by Hydro-Québec with a total value of approximately $29.0 million.

First, Thirau ltée has obtained, under an extension option, the renewal of a major contract for the construction, maintenance and modification, on demand, of overhead distribution networks in Hydro-Québec's Montreal and Richelieu territories. The one-year extension is for calendar 2013. Its value is estimated at $15.0 million and approximately 100 employees will carry out the work.

Second, Thirau ltée will proceed with the construction of a 230-kV, double-circuit line to connect the new De Charlesbourg substation to the Ile Maligne/Québec line. The contract is valued at approximately $10.0 million. Work will begin in January 2013 and should be completed in September 2013. It is expected that up to 80 employees will carry out the work.

Finally, J.J.L. Déboisement inc. has been awarded a two-year contract with a total value of approximately $4.0 million for the control of vegetation on rights-of-way of distribution lines in Hydro-Québec's Lanaudière territory. The contract spans calendar 2013 and 2014 and also provides two options for two-year renewals exercisable at the customer's discretion. Approximately 20 people will be employed in the work.

"These contracts convincingly reflect upon the solid and longstanding business relationship we have with Hydro-Québec," said André Laramée, President and Chief Executive Officer of CVTech. "The contracts also highlight the wide reach of our service offering as well as our subsidiaries' leading position in their respective business niches."

OVERVIEW OF THE CORPORATION
CVTech is a company operating in the energy sector. Through Thirau ltée and its subsidiaries, Riggs Distler Inc. and Thirau LLC, the Corporation provides services to the electric power industry for the maintenance of transmission and distribution lines, primarily in Quebec, Ontario and the eastern United States. Another Thirau ltée subsidiary, J.J.L. Déboisement inc., specializes in control of vegetation surrounding power lines and in clearing rights of way. Thirau LLC's wholly owned subsidiary Riggs Distler & Company, Inc. is a leading provider of maintenance and construction services to the utility and heavy industrial markets.

FORWARD-LOOKING STATEMENTS
This document may contain forward-looking statements that reflect management's current expectations regarding future events. Forward-looking statements are based on a number of factors and include risks and uncertainties. Actual results may differ from forecast results. Management has no obligation beyond what is required under the law to update or revise forward-looking statements pursuant to new information or future events.

Further information regarding CVTech is available in the SEDAR database (www.sedar.com) and on the Corporation's website at www.cvtech.ca.

SOURCE: CVTECH GROUP INC.

For further information:

André Laramée, MBA 
President and Chief Executive Officer
819-479-7771
a.laramee@cvtech.ca

Mario Trahan, CPA, CMA 
Chief Financial Officer
819-479-7771
m.trahan@cvtech.ca

MaisonBrison Communications
Martin Goulet, CFA
514-731-0000
martin@maisonbrison.com

Profil de l'entreprise

CVTECH GROUP INC.

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