TORONTO, June 30, 2016 /CNW/ - Aecon Group Inc. (TSX:ARE)
announced today that it has been awarded a $250 million contract by Union Gas Limited for
work on its Dawn-Parkway Expansion Project in Ontario. Aecon was also awarded a
four-year Master Service Agreement (MSA) contract with Spectra
Energy Transmission (Spectra Energy) for pipeline facilities work
in Western Canada.
Aecon's scope of work at the Union Gas Dawn-Parkway
Expansion Project primarily relates to the construction of natural
gas compressor facilities at its existing Bright, Dawn and Lobo
compressor station locations across southwestern Ontario. Work has commenced and is scheduled
to be complete by the fourth quarter of 2017. The contract value
will be added to Aecon's Energy segment backlog in the second
quarter of 2016.
The current scope of work for the MSA contract by Spectra Energy
includes construction work at its compressor stations and related
labour on pipeline facilities on its natural gas transmission
system in British Columbia. Work
on the four-year MSA, which includes future renewal provisions, has
begun and is a recurring revenue contract.
"Aecon's energy segment demonstrates strong backlog and
diversification as we continue our commitment to delivering
end-to-end turnkey solutions for our clients," said Teri McKibbon, President and Chief Executive
Officer, Aecon Group Inc.
"Building partnerships and alliances forms the backbone of our
business, and we look forward to working on these essential
programs as we continue our strategic alliance with Union Gas
and Spectra Energy in both Eastern and Western Canada," said Mark Scherer, Executive Vice President,
Energy."
Aecon Group Inc. (TSX: ARE) is a Canadian leader and
partner-of-choice in construction and infrastructure development.
Aecon provides integrated turnkey services to private and public
sector clients in the Infrastructure, Energy and Mining sectors and
provides project management, financing and development services
through its Concessions segment. Aecon is also pleased to be
consistently recognized as one of the Best Employers in
Canada. For more information,
please visit www.aecon.com and follow us on Twitter at
@AeconGroup.
The information in this press release includes 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 events beyond Aecon's control, there
are factors which could cause actual or future results, performance
or achievements to differ materially from those expressed or
inferred herein including, but not limited to: the timing of
projects, unanticipated costs and expenses, general market and
industry conditions and operational and reputational risks,
including Large Project Risk and Contractual Factors. Readers are
referred to the specific risk factors relating to and affecting
Aecon's business and operations as filed by Aecon pursuant to
applicable securities laws. Forward-looking statements may include,
without limitation, statements regarding the operations, business,
performance, prospects, strategies and outlook for Aecon.
Forward-looking statements, may in some cases be identified by
words such as "will," "plans," "believes," "expects,"
"anticipates," "estimates," "projects," "intends," "should" or the
negative of these terms, or similar expressions. Except as
required by applicable securities laws, forward-looking statements
speak only as of the date on which they are made and Aecon
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
SOURCE Aecon Group Inc.