TSX Symbol: HNL
CALGARY, Aug. 13, 2012 /CNW/ - Horizon North Logistic Inc. ("Horizon") announced today that it has entered into a contract for the sale of a new 1,900 person dormitory complex to a major operator in the Fort McMurray, Alberta oil sands region. Total value of the project, which includes design, manufacture, transportation and site installation, is approximately $140 million. Horizon will begin manufacturing the 750 unit project in Q4 2012 with installation scheduled to be complete in early 2014. The majority of the project manufacturing work will take place in Horizon's Kamloops, British Columbia plant which employs 450 people.
Bob German, President and Chief Executive Officer of Horizon noted, "This project demonstrates the continued high demand for our services and the increasing visibility of our revenue streams, including third party manufacturing and sales. As a result, we are in the process of adding to our camp manufacturing workforce and plan to see it increase by approximately 25% over the next nine months".
Additional information related to the Corporation, including the Corporation's annual information form, press releases, financial statements, and MD&A are available on SEDAR at www.sedar.com.
Certain statements contained in this news release may constitute forward-looking statements or information. All statements other than statements of historical fact contained in this news release may be forward-looking statements or information. In particular, forward-looking information includes the statement "we are in the process of adding to our camp manufacturing workforce and plan to see it increase by approximately 25% over the next nine months." This statement is based on the assumption that ongoing demand for Horizon's services will result in such increases in employment and that Horizon will be successful in hiring such qualified employees. This statement relates to future events or the future performance of Horizon. As such, many factors could cause the performance or achievements of Horizon to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements.
SOURCE: Horizon North Logistics Inc.
For further information:
Bob German, President and Chief Executive Officer or Scott Matson, Vice President Finance and Chief Financial Officer, 1600, 505 - 3rd Street S.W., Calgary, Alberta T2P 3E6; Telephone: (403) 517 - 4654; Fax: (403) 517 - 4678; Website: www.horizonnorth.ca