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News Release |
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Aecon secures a large module contract for oilsands
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Aecon secures a large module contract for oilsands
Edmonton, Alberta – May 30, 2007: Aecon Group Inc. (TSX: ARE) announced today that its Industrial Western Canada division has secured a large module contract for an oilsands project in Alberta. Under the contract, Aecon Industrial will perform module work on Shell Canada's Scotford Upgrader Expansion 1 project, located north of Edmonton. Aecon's role includes the fabrication of specialty pipe and the assembly of over 200 pipe rack and process modules for the Upgrader. Each module will weigh between approximately 60 and 150 tonnes. Work is scheduled to begin in mid 2007. Work on the project will be carried-out at Aecon's fabrication and module assembly facilities in Edmonton, the largest such facility in Canada. Aecon's superior facilities give Aecon the unique ability, as well as the capacity, to manage this critical project. “Our proven ability to execute projects safely and on schedule, within challenging environments, makes Aecon a leader in pipe fabrication and module work in Western Canada,” said Stan Shewchuk, President, Aecon Industrial Western Canada. “This record of success allowed Shell to make an award of this scale with confidence.” “Aecon's growing leadership in our industry is evidence that our controlled growth strategy is bearing fruit,” said Paul Koenderman, Executive Vice President, Aecon Group Inc. and CEO, Aecon Industrial. “This contract will add significantly to Aecon's backlog in Western Canada, and we are very proud of the trust Shell Canada has demonstrated in us with this important award.“ 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 the Section entitled “Risk Factors and Uncertainties” in Management's Discussion and Analysis of operating results and Financial condition for the quarter ended March 31, 2007, filed 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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