TORONTO, Sept. 27 /CNW/ - Aecon Group Inc. ("Aecon") (TSX:ARE) announced
today that its Buildings Division has secured a contract with an estimated
value of $100 million from the Toronto Economic Development Corporation
(TEDCO) to build TEDCO's Corus Entertainment office building and broadcast
centre located on Toronto's waterfront.
The contract involves the construction of an approximately 500,000 square
foot office building, including 70,000 square-feet of underground garage
Once completed, the TEDCO building will serve as Corus Entertainment's
Toronto headquarters and will be a landmark building on Toronto's waterfront.
This project is the first commercial development along the East Bay Front area
and is the first step in the city's efforts to bring new development and
employment to Toronto's central waterfront.
The building will achieve gold-certification for Leadership in Energy and
Environmental Design (LEED), marking the ninth LEED project for Aecon. Work on
the project is scheduled to begin this month and is expected to be completed
in August of 2009.
"Given the significance of this building for the development of Toronto's
waterfront, we are especially pleased to be a part of it," said Robert
McDonald, President, Aecon Buildings. "We look forward to working with the
Toronto Economic Development Corporation on this landmark project."
The Toronto Economic Development Corporation is the principal
redevelopment corporation for the City of Toronto and major landowner across
the city. TEDCO is focused on commercial, industrial and mixed-use projects
working together with both public and private sector partners.
Aecon Group Inc. is Canada's largest publicly traded construction and
infrastructure development company. Aecon and its subsidiaries provide
services to private and public sector clients throughout Canada and
internationally. Aecon's shares are listed for trading on the Toronto Stock
Exchange under the symbol ARE.
The information in this news release includes certain forward-looking
statements. These statements are based upon assumptions that are subject to
significant risks and uncertainties which are generally described in
Section 3.2 "Risk Factors" of Aecon's Annual Information Form available on
SEDAR at www.sedar.com. Although Aecon believes that the expectations
reflected in forward-looking statements are reasonable, it can give no
assurance that the expectations of any forward-looking statements will prove
to be correct.
For further information:
For further information: Mitch Patten, Vice President, Corporate
Affairs, Aecon Group Inc., (416) 297-2615, firstname.lastname@example.org, www.aecon.com