Toronto, Ontario and Edmonton, Alberta – March 31, 2009: Aecon Group Inc. ("Aecon") (TSX:ARE) and Lockerbie & Hole Inc. ("Lockerbie") (TSX:LH) today announced that both Lockerbie's shareholders and the Court of Queen's Bench of Alberta have approved the arrangement under the Business Corporations Act (Alberta) pursuant to which Aecon will acquire all of the outstanding shares of Lockerbie. Closing of the arrangement is scheduled for April1, 2009.
Aecon 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. Aecon is pleased to be recognized as one of the 50 Best Employers in Canada as published by Report on Business Magazine and as one of Canada’s Top 100 Employers as published in Maclean’s Magazine.
Lockerbie was founded in 1898 and is one of the largest mechanical construction contractors in Canada. Lockerbie is a multi-disciplined contractor providing mechanical, electrical, instrumentation, pipe fabrication, module assembly, boiler erection, insulation and civil construction services primarily to the oilsands, mining, institutional, municipal and commercial market sectors. Lockerbie is headquartered in Edmonton, Alberta.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES