Laker Energy wins contracts for Darlington Retube & Refurbishment

OAKVILLE, ON, March 9, 2017 /CNW/ - Today, Laker Energy is pleased to announce it has won three contracts totalling more than $54 million from the SNC-Lavalin-Aecon Joint Venture for nuclear components in support of the Darlington nuclear generating station's Retube & Feeder Replacement (RFR) project.

Included in this work are channel closures and end fitting liner assemblies for the RFR project, which Laker will manufacture entirely at its Oakville location.

"Laker Energy is committed to the Darlington RFR project," said Chris Hughes, President, Laker Energy. "We're very proud that these contracts will maintain 40 full time jobs in Oakville for the next four years."

Channel closures seal the ends of the fuel channels and prevent the escape of heavy water. Their design allows for on-line defueling, an advantage of the CANDU reactor design. Liner assemblies are installed in end fitting components and hold fuel bundles in place.

"Laker Energy has long been a valued partner in supplying nuclear components to CANDU plants," said Preston Swafford, Chief Nuclear Officer and Executive Vice-President, Nuclear at SNC-Lavalin, speaking on behalf of the JV. "The entire nuclear industry is committed to the success of the Darlington RFR project."

Once complete, the four Darlington CANDU reactors will produce safe, reliable, affordable and low-carbon energy for Ontario for another 30 years. A study conducted by Intrinsik Environmental Science, showed continued operations of the Darlington Nuclear Generating Station will remove the equivalent of two million cars from Ontario's roads annually.

Laker Energy, which employs 85 people in its Oakville facility, has supplied the Canadian nuclear industry since 1995.

"Laker Energy is not only a world-class operation, but a made-in-Ontario success story. This contract is part of the significant economic activity the Darlington refurbishment is generating in Oakville and across the province," said Glenn Thibeault, Ontario's Minister of Energy. "Ontario's nuclear energy sector, including companies like Laker Energy, supports nearly 60,000 jobs and are providing us with the technical expertise we need to build the clean, low-carbon economy of tomorrow."

The Darlington refurbishment project is a large part of Ontario's clean energy equation bringing energy to the province until 2055 and is Canada's largest clean energy project. The project and subsequent 30 years of station operation will generate a total of $89.9 billion in economic benefits for Ontario, including the preservation of approximately 3,000 jobs and an expected boost to personal income by an average of $1.6 billion per year.

About Laker Energy

Founded in 1995, Laker Energy Products emerged as a leading material organization supplying nuclear grade pipe, tubing, fittings, fasteners and other pressure retaining components to the CANDU® nuclear power industry. As customer demand for new, reliable sources for reactor components grew, our company evolved into a fully integrated, high-precision machining, assembly and testing facility. Domestically and internationally, we deliver the precision and performance demanded by our customers in the nuclear and energy industries.

About the SNC-Lavalin/Aecon Joint Venture

The Darlington Nuclear Refurbishment project will add $14.9 billion to the provincial economy, as well as 8,800 jobs for the project's duration. The SNC-Lavalin/Aecon JV has worked on the definition phase of the project for four years, and will now carry out the execution phase of the refurbishment project. Under the JV agreement between Aecon and SNC-Lavalin, Aecon will provide primarily construction and fabrication services to the JV, while SNC-Lavalin will focus on specialty tooling and engineering.  Project management and procurement will be provided jointly by Aecon and SNC-Lavalin. Over 400 JV employees are involved in this exciting zero-emissions energy project.

SOURCE Laker Energy Products Ltd

Laker Energy Products Ltd.: Chris Hughes, President & CEO, 905-332-3231 x228, [email protected]; SNC-Lavalin: Louis-Antoine Paquin, Manager, Media Relations, 514-393-8000 x54771, [email protected]; Aecon: Nicole Court, Director, Corporate Affairs, Phone: [phone] ext. 3824, [email protected]