Aecon restructures its Buildings Division
2010年9月28日 - 6:30AM
PR Newswire (Canada)
TORONTO, Sept. 27 /CNW/ -- - Adds two executives, realigns its
reporting structure, and adjusts its market focus - TORONTO, Sept.
27 /CNW/ - Aecon Group Inc. (TSX: ARE) today announced the addition
of two experienced construction executives to its Greater Toronto
Area (GTA) Buildings business, the realignment of its management
reporting structure and the adjustment of its market focus. Joining
Aecon Buildings GTA are Wayne Jennings, Senior Vice President,
Project Development, and Jeff Pigott, Senior Vice President,
Construction. Both are filling newly created positions, with Mr.
Jennings taking over responsibility for business development,
estimating and pre-construction services, and Mr. Pigott now
responsible for construction operations. Wayne Jennings is a senior
construction executive with more than 20 years' experience managing
operations in the construction and real estate industries, most
recently as Vice President and General Manager of the Ottawa office
of Montreal-based Canderel Group of Companies. Jeff Pigott has an
impressive track record in the construction industry, most recently
as Vice President, Field Operations for Kenaidan Contracting Ltd.,
where for the last eight years he has been responsible for all
projects undertaken in the civil, institutional, commercial and
industrial markets. "We are thrilled to have Wayne and Jeff on the
team," said Frank Ross, President, Aecon Buildings. "They bring
tremendous experience to their new roles, and strengthen our
ability to efficiently meet the needs of our clients in the Greater
Toronto Area." Aecon also announced that it is realigning its
internal management structure such that the Buildings division will
now form part of Aecon's Infrastructure Group. This realignment
will more fully capitalize on the combined strengths and potential
synergies of the two organizations. Under the reorganization, Teri
McKibbon, CEO of Aecon's Infrastructure Group, will carry executive
responsibility for the combined organization. Aecon Buildings will
be a separate business unit within the now broadened Aecon
Infrastructure Group, with Buildings President Frank Ross and his
team reporting to Mr. McKibbon. A growing area of focus for the
combined team will be projects where the skills and experience of
both the Buildings and Infrastructure teams can be applied jointly,
such as public transit, water treatment facilities and sports
facilities as well as energy and power generation projects. "There
are an increasing number of synergies and common market
opportunities for Buildings and Infrastructure, particularly on
large public sector projects, where Aecon is already very well
positioned, as well as on certain smaller, specialized
opportunities where Aecon's scale, sophistication and multi trade
capabilities can add real value for our clients," said Teri
McKibbon, CEO of Aecon's Infrastructure division. "This combination
will give Aecon a true competitive advantage in delivering projects
as a full service construction company." "Although the recent
financial performance of the Buildings division has not yet met our
standards, the team is strong and the market opportunities are
real," Mr. McKibbon added. "We firmly believe this refinement of
strategy and the combined strength of our management teams will
deliver strong future results." "This reorganization is designed to
better position Aecon to capitalize on market opportunities, share
best practices, capture efficiencies, and better leverage the
skills and experience of the combined team," said Scott Balfour,
President, Aecon Group Inc. "The additions and changes we are
announcing today are all designed to drive superior client service
and improved overall results. They address the recent operating and
financial performance challenges within the Buildings group while
still maintaining the general contracting capabilities that we
believe form an important component of Aecon's overall value
proposition." Aecon Group Inc. is Canada's largest, publicly traded
construction and infrastructure development company. Aecon and its
subsidiaries provide services to private and public sector clients
throughout Canada and on a selected basis internationally. Aecon is
pleased to be recognized as one of the 50 Best Employers in Canada.
The information in this release may include certain forward-looking
statements. These "forward-looking" statements are based on
currently available competitive, financial and economic data and
operating plans but are subject to risks and uncertainties. In
addition to general global events outside Aecon's control, there
are factors which could cause actual results, performance or
achievements to vary from those expressed or inferred herein. Risk
factors are discussed in greater detail in the section on "Risk
Factors" in the Annual Information Form filed on March 31, 2010 and
available at www.sedar.com. Forward-looking statements include
information concerning possible or assumed future results of
operations or financial position of Aecon, as well as statements
preceded by, followed by, or that include the words "believes,"
"expects," "anticipates," "estimates," "projects," "intends,"
"should" or similar expressions. Important factors, in addition to
those discussed in this document, could affect the future results
of Aecon and could cause those results to differ materially from
those expressed in any forward-looking statements. %SEDAR:
00004778EF Mitch Patten, Senior Vice President, Corporate Affairs,
Aecon Group Inc., 416-297-2615, aecon@aecon.com, www.aecon.com
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