EDMONTON, May 1, 2015 /CNW/ - Aecon Group Inc. (TSX:ARE) announced today that it has been awarded a $109 million contract by North West Redwater Partnership (NWR) for additional work related to their Sturgeon Refinery Project in Alberta.
Under the contract, Aecon's Energy segment will perform site erection work at the NWR Sturgeon Refinery including structural preassembly of modules, modular to modular interconnects, as well as installation of mechanical equipment and instrumentation. Work is expected to start in the second quarter of 2015 and expected to be complete in the third quarter of 2016.
In 2014, Aecon was awarded approximately $230 million in contracts by NWR for structural steel erection, fabrication and module assembly at the NWR Sturgeon Refinery.
"Aecon's commitment to successful execution and our unique partnering approach often leads to repeat business with top tier clients such as NWR," says Teri McKibbon, President and Chief Executive Officer, Aecon Group Inc. "The work performed on this particular contract also highlights Aecon's turnkey capabilities with our ability to self-perform a majority of the scope for major projects."
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: David Smales, EVP and Chief Financial Officer, Aecon Group Inc., 416-297-2619, [email protected], www.aecon.com