TORONTO, April 11, 2018 /CNW/ - Aecon Group Inc.
(TSX: ARE) announced today that Mosaic Transit Group has been
selected by Metrolinx and Infrastructure Ontario as preferred
proponent for the Finch West Light Rail Transit (LRT) project in
Toronto. Mosaic Transit Group is
comprised of Aecon, ACS Infrastructure Canada Inc. and CRH Canada
Group Inc. Each member of the consortium is an equal partner (33.3
per cent) in the equity and construction of the project, while
Aecon and ACS Infrastructure Canada Inc. each have a 50 per cent
interest in the 30 year maintenance agreement for the LRT.
Financial Close and the start of construction are expected for
the second quarter of 2018.
"Aecon continues to demonstrate proven capabilities to secure
and deliver large-scale, complex infrastructure projects. We look
forward to working with Metrolinx, Infrastructure Ontario and our
partners to execute this world-class project," said John M. Beck, President and Chief Executive
Officer, Aecon Group Inc. "The Finch West LRT will be a significant
addition to Toronto's transit
system and Aecon is pleased to play a key role in connecting
communities across the Greater Toronto
Area."
About Aecon
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. For more
information, please visit www.aecon.com and follow us on
Twitter at @AeconGroup.
Statement on Forward-Looking Information
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. Forward-looking statements may include, without
limitation, statements regarding the operations, business,
financial condition, expected financial results, performance,
prospects, ongoing objectives, 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. 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. 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.