Subsidiary Stuart Olson Dominion Wins $147 Million Design-Build Contract
CALGARY, Sept. 19, 2012 /CNW/ - The Churchill Corporation (TSX: CUQ) ("Churchill" or the "Corporation") today announced that Stuart Olson Dominion Construction Ltd. ("Stuart Olson Dominion"), Churchill's General Contracting segment, has been selected by the Board of the Winnipeg Convention Center ("WCC") to design and build an expansion to the WCC at an estimated value of $147 million.
The existing downtown complex will be enlarged by about 304,000 square feet, providing the WCC with more than 399,000 square feet of meeting and trade show space that will meet the demands of event planners from around the world. Design and construction activities for the new expanded convention centre will incorporate sustainable practices and target Leadership in Energy and Environmental Design (LEED®) Silver certification at completion, which is targeted for the last quarter of 2015.
"Our team at Stuart Olson Dominion is pleased to have been selected to build yet another landmark project in the province of Manitoba," said David LeMay, Churchill's President & COO. "We are very excited about our growing business activity in Manitoba through both Stuart Olson Dominion's and Canem's McCaine Electric business units. This announcement of the convention centre construction award, along with the current work at the University of Manitoba, the Investors Group stadium and the Winnipeg Zoo reflects our long term commitment to growing our business in the province. The expansion of the convention centre supports the City of Winnipeg's vision of a revitalized and dynamic city centre and is expected to act as a catalyst for further private and public sector investment in downtown Winnipeg."
About The Churchill Corporation
The Churchill Corporation provides building construction, commercial and industrial electrical contracting, earthmoving and industrial insulation services to an array of public and private sector clients. Churchill operates office locations throughout British Columbia, Alberta, Saskatchewan, Manitoba, northwest Ontario and the Yukon. Churchill common shares and convertible debentures are listed on the Toronto Stock Exchange under the symbols "CUQ" and "CUQ.DB", respectively. www.churchillcorporation.com
Forward Looking Information
This press release contains statements that may constitute forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, without limitation, statements pertaining to the value and projected completion date of the project as well as Churchill's projected business activity in Manitoba. Forward-looking information is based on management's reasonable assumptions and estimates in respect of its experience and perception of trends, current economic conditions as well as other material factors that it considers to be relevant at the time of making such statements. The forward-looking information in this press release is included solely for the purpose of assisting investors in understanding the Corporation's financial position and the results of its operations as at the date hereof. By its nature, forward-looking information involves known and unknown risks and uncertainties, which give rise to the possibility that management's assumptions and estimates will be incorrect and that the Corporation's anticipated results will not be achieved. Such statements should not be interpreted as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Forward-looking information is subject to a number of factors that may cause actual results to differ materially from those results implied by the expectations suggested by such information. Those factors include, without limitation, the risks and uncertainties described in the Corporation's Annual Information Form filed with the securities regulatory authorities in Canada under the Corporation's profile at www.sedar.com. Readers are encouraged to consider the foregoing risks and other factors carefully when evaluating the forward-looking information and are cautioned not to place undue reliance upon such information when making investment decisions. The forward-looking information in this press release is current to the date hereof, and is subject to change following such date. While the Corporation may elect to do so, unless required by applicable law, it undertakes no obligation to update this information to reflect new information or circumstances at any particular time.
SOURCE: The Churchill Corporation
For further information:
Vice President Investor Relations
The Churchill Corporation
Ken Wetherell, CFA
Director, Investor Relations
The Churchill Corporation