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News Release |
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Aecon awarded $41 million contract for widening of Hwy 401
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Toronto, Ontario – April 25, 2006: Aecon Group Inc. (TSX: ARE) today announced that its Construction and Materials division has been awarded a $40.8 million contract to widen an 11 km stretch of Highway 401 and conduct bridge maintenance work on three overpasses near Woodstock, Ontario. The project, awarded by Ontario's Ministry of Transportation (MTO), involves expanding Highway 401 from four lanes to six between Oxford Road 2 (formerly Hwy 2) and Highway 403 by adding one inside lane in each direction. It also includes rehabilitation of one overpass and rebuilding the superstructure of two others. Aecon is the general contractor on the project and will self perform all of the grading and granular work, sewer placement, paving and structure rehabilitation work on the project. Work will begin almost immediately and is scheduled for completion in late 2006. "Aecon has a long and productive relationship with the MTO, dating back to the early days of the automobile," said Teri McKibbon, President of Aecon's Civil and Utilities Group. “We are proud of the continued confidence this award demonstrates in Aecon.” This award follows the announcement last week of a $37.5 million contract award to Aecon for the widening of Highway 407 ETR north of Toronto between Highway 427 and Highway 404. 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 internationally. The information in this news release includes certain forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties which are generally described in Section 3.2 “Risk Factors” of Aecon's Annual Information Form available on SEDAR at www.sedar.com. Although Aecon believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. --30--
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