DRUMMONDVILLE, QC, June 3 /CNW Telbec/ - CVTech Group Inc. ("CVTech")
(Toronto Stock Exchange: CVT) announces that its subsidiary, Thiro Ltd.
("Thiro") has been granted a contract of $5.7 million by Hydro-Quebec for the
reconstruction of a 230kV transmission line section between the Sorel and
The temporary bypass works, the dismantling of the actual structures and
the construction of 21 new lattice type towers will take place between the
months of June and October 2008.
According to Guy Aubert, Vice-President, Electrical Lines and Clearance &
Pruning Division of CVTech, about 60 employees will be assigned to the
accomplishment of the works.
CVTech is a management corporation. Some of its subsidiaries design,
manufacture and sell continuously variable transmissions ("CVT"). Another
subsidiary, Thiro Ltd. ("Thiro"), provides services for the construction and
maintenance of electrical transmission and distribution lines. It has two
indirect subsidiaries: Thiro USA Inc. ("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 in 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 625 employees comprising
164 employees in the CVT systems and related products segments and
461 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) 477-3232; Mario Trahan, CMA, Chief Financial Officer, CVTech
Group Inc., (819) 477-3232