CALGARY, Aug. 19 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today
that its Infrastructure Division has been awarded two contracts
totalling $75.4 million; a contract by Parks Canada for $46.7 million
for the twinning of the Trans Canada Highway in Banff National Park, and
a contract from the City of Calgary for the extension of 96 Avenue
Northeast in Calgary.
Under the terms of the first contract awarded by Parks Canada, Aecon
will twin the Trans Canada highway in Banff National Park for a 6.2
kilometre stretch from just west of Lake Louise to the British
Columbia/Alberta border. The project includes the construction of three
bridges, two over the Canadian Pacific Railroad, as well as one to serve
as a wildlife crossing over Bath Creek. The project also involves
installation of wildlife fencing along the project's length.
Under the second contract, Aecon will construct a six-lane extension to
connect the existing 96 Avenue NE with the Deerfoot-Trail Airport
Interchange, for the City of Calgary. The contract includes upgrading
the interchange, for Alberta Transportation. In addition, Aecon will
construct four new bridges for eastbound and westbound traffic over Nose
Creek and the Canadian Pacific Rail tracks. The project also involves
the construction of a new embankment, storm-water facilities, sanitary
sewers, water main installation and sign structures. As well, Aecon will
construct an extension of The City of Calgary's Regional Pathway.
Work on both projects has commenced, with completion scheduled for the
summer of 2012.
"These high-profile projects are a great fit for Aecon, and demonstrate
our extensive experience in constructing highways while maintaining the
ecological integrity of the areas," said Teri McKibbon, CEO of Aecon's
Infrastructure Group. "Aecon's strength and experience, alongside our
reputation for working on such projects, make Aecon a great partner for
both the City of Calgary and Parks Canada."
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 on a
selected basis internationally. Aecon is pleased to be recognized as one
of the 50 Best Employers in Canada as published by Report on
The information in this presentation 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. Recent events in global
financial and credit markets have resulted in abnormally high market
volatility and a level of uncertainty not seen in decades. The high
level of uncertainty arising from this crisis may continue to impact the
global, North American and Canadian economies in unpredictable ways and
may impact the results of Aecon in a manner which is currently
impossible to ascertain. In addition, factors could cause Aecon's actual
results, performance or achievements to vary from those expressed or
inferred herein. Risk factors are discussed in greater detail in the
section on "Risk Factors" in the Annual Information Form filed on March
31, 2010 and available at href="http://www.sedar.com/">www.sedar.com.
Forward-looking statements include information concerning possible or
assumed future results of operations or financial position of Aecon, as
well as statements preceded by, followed by, or that include the words
"believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should" or similar expressions. Important factors, in
addition to those discussed in this document, could affect the future
results of Aecon and could cause those results to differ materially from
those expressed in any forward-looking statements.
SOURCE Aecon Group Inc.
For further information: For further information:
Senior Vice President
Aecon Group Inc.