TORONTO, Aug. 15, 2018 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that it has received approval to rejoin Bridging North America, the team selected as the Preferred Proponent to design, build, finance, operate and maintain the Gordie Howe International Bridge through a public-private partnership.
Aecon will rejoin its partners, ACS Infrastructure Canada Inc., Dragados Canada Inc. and Fluor Canada as a member of the Bridging North America consortium. Financial close is expected by the end of September 2018.
Aecon's request to participate in the public-private partnership was approved following thorough review by Windsor-Detroit Bridge Authority ("WDBA"), the Canadian Crown corporation responsible for the project.
"This is an important project for Canada and the United States," said John M. Beck, President and Chief Executive Officer, Aecon Group Inc. "The Gordie Howe International Bridge project fits well into Aecon's existing portfolio of projects. Given Aecon's current resources, extensive involvement in the development of the proposal prior to its withdrawal and review of the final proposal, Aecon is pleased to be a part of the team to deliver this critical infrastructure project for the benefit of all stakeholders. Aecon looks forward to working with its partners and WDBA to achieve financial close and ultimately deliver this vital infrastructure project."
Aecon Group Inc. (TSX: ARE) is a Canadian leader and partner-of-choice in construction and infrastructure development. Aecon provides integrated turnkey services to private and public-sector clients in the Infrastructure and Industrial sectors, and provides project management, financing and development services through its Concessions segment. For more information, please visit aecon.com and follow us on Twitter, LinkedIn, and Instagram at @AeconGroup.
Statement on Forward-Looking Information
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. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for Aecon including with respect to the achievement and timing of financial close of the Gordie Howe International Bridge project, the benefits to be delivered to all stakeholders of the project and Aecon rejoining its partners in the Bridging North America consortium . 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. 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. 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: Adam Borgatti, SVP, Corporate Development and Investor Relations, (416) 297-2610, [email protected]; Nicole Court, Director, Corporate Affairs, (416) 297-2600 x3824, [email protected]