DRUMMONDVILLE, QC, May 20 /CNW Telbec/ - CVTech Group Inc. ("CVTech" or
the "Corporation") (Toronto Stock Exchange: CVT) announces that its indirectly
owned subsidiary, Thiro USA Inc. ("Thiro USA") has been granted by National
Grid USA Companies ("National Grid USA") a three-year contract estimated at
$150 million ($50 million per year) for the construction, maintenance and
repair of electrical distribution lines in the states of Massachusetts and
The works will begin in June 2009. Two (2) renewal options of one year
each come at the end of the initial three-year term.
According to Mr. Guy Aubert, Vice-President, Electrical Lines and
Clearance & Pruning Division of CVTech, about 200 employees will be assigned
to the accomplishment of the works.
CVTech is a management corporation. Some of its subsidiaries design,
manufacture and sell CVTs. Another subsidiary, Thiro, provides services for
the construction and maintenance of electrical transmission and distribution
lines. It has two indirect subsidiaries: Thiro USA and J.J.L. Déboisement inc.
("J.J.L.") Thiro USA, like Thiro, provides services for the construction and
maintenance of electrical transmission and distribution lines. J.J.L.
specializes in vegetation control on rights-of-way for transmission and
distribution lines. The subsidiary CVTech-AAB inc. specializes in the
rebuilding of crankshafts and reconditioning of cylinders, and the
distribution of engine parts.
CVTech is the owner of the trademarks and CVTech R&D inc. holds the
intellectual property on products which are part of its technological
CVTech currently has a staff of approximately 715 employees comprising
160 employees in the CVT systems and related products segments and 555
employees in the electricity segment.
The present document may contain forward-looking statements that reflect
the current expectations of management with regard to future events. These
forward-looking statements depend on a certain number of factors and are
subject to risks and uncertainties. The actual results could differ from those
anticipated. Management undertakes no obligation to update or revise the said
forward-looking statements on receipt of new information or subsequent to
future events other than the ones required by law.
For further information with regard to CVTech, the reader is invited to
consult the SEDAR database and the Corporation's Website at:
For further information:
For further information: André Laramée, MBA, President and CEO, CVTech
Group Inc., (819) 479-7771; Mario Trahan, CMA, Chief Financial Officer, CVTech
Group Inc., (819) 479-7771