LISTING: TORONTO STOCK EXCHANGE
TORONTO, Jan 22, 2015 /CNW/ - Bird Construction Inc. announced today that it is part of a consortium selected as the preferred proponent to design, build, finance and maintain the East Rail Maintenance Facility located in Whitby, Ontario. Bird has an interest in, and is also the managing partner of, the construction joint venture to design and build the project. Bird will also take a minority equity interest in the concession responsible for the design, construction, financing and maintenance of the project through Bird Capital, a wholly-owned subsidiary. The East Rail Maintenance Facility will be a 500,000 square-foot building, including over 16 kilometres of rail track that will provide maintenance, repair and additional storage for GO trains in support of GO Transit's planned service expansion. The consortium plans to reach financial close early in 2015 and commence construction activity shortly thereafter, with a scheduled completion date in late 2017. At this time, there can be no assurances that the consortium will receive a contract award related to this project.
The Company has also recently been awarded a fixed price contract to construct the Hamilton Transit Centre in Richmond, British Columbia which consists of a new bus maintenance and operations centre, with a focus on servicing Translink's new fleet of energy efficient Compressed Natural Gas buses. The project is comprised of six buildings totaling 167,000 square-feet. Construction of this project will commence shortly and completion is expected in the fall of 2016.
Mr. Ian Boyd, Bird's President and CEO, stated "the Company is very excited about the East Rail Maintenance Facility which reflects Bird's ongoing commitment to actively pursue construction and equity investment opportunities in the PPP market across Canada, while the Hamilton Maintenance Facility contract award will further contribute positively to our work program over the course of the next few years".
This press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Bird Construction Inc.
For further information: I.J. Boyd, President & C.E.O or S.R. Entwistle, C.F.O, Bird Construction Inc., 5700 Explorer Drive, Suite 400, Mississauga, ON L4W 0C6, Phone: (905) 602-4122