TORONTO, Sept. 9, 2014 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that it has been awarded a $156 million contract by the Ontario Ministry of Transportation (MTO) to widen Highway 410 in Peel Region. To be booked in the third quarter as backlog, Aecon previously announced this Infrastructure contract in its second quarter results release.
The work includes grading, drainage, paving, electrical work, widening and repairing bridge structures, construction of new ramps, as well as updating the advanced traffic management system along Highway 410 from south of Highway 401 to Queen Street in Brampton.
"Highway 410 is a major traffic artery for motorists in the Greater Toronto Area," said Teri McKibbon, Aecon's President and Chief Executive Officer. "Aecon has a long history of developing highway projects across Ontario and we are pleased to be selected by the MTO to complete road work and additional upgrades along this key transportation corridor."
The project will begin in the third quarter of 2014 and is expected to be complete by the fourth quarter of 2018.
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.
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