Toronto, ON – October 26, 2011: Aecon Group Inc. (TSX:ARE) announced today that its Mining Division has been awarded a contract valued at approximately $80 million for work at a new potash mine, located approximately 140 kilometres east of Saskatoon, Saskatchewan.
Under the unit price contract, Aecon Mining will conduct site preparation and early works, including site grading, construction of temporary roads, preparation of sediment ponds, and layouts for the camp. Work at the site has begun and is scheduled for completion in the fall of 2012.
“This contract represents an important step forward for Aecon Mining, expanding its client base and its reach in Western Canada’s resource sector,” said Teri McKibbon, Aecon’s Chief
Operating Officer. “The potash industry in Saskatchewan is undergoing significant growth, and Aecon is strategically positioned to play a role in many aspects of that growth.”
Aecon Group Inc. is one of Canada’s largest and most diverse construction and infrastructure development companies. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and on a selected basis internationally. Aecon is pleased to be recognized as one of the Best Employers in Canada.
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 general global events outside Aecon’s control, there are factors which could cause actual results, performance or achievements to vary from those expressed or inferred herein including risks associated with an investment in the common shares of Aecon and the risks related to Aecon's business, including
Large Project Risk and Contractual Factors. Risk factors are discussed in greater detail in the section on “Risk Factors” in the Annual Information Form filed on March 30, 2011 and available at www.sedar.com. Forward-looking statements include information concerning possible or assumed future results of operations or financial position of Aecon, as well as statements preceded by, followed by, or that include the words “believes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “should” or similar< expressions. Important factors, in addition to those discussed in this document, could affect the future results of Aecon and could cause those results to differ materially from those expressed in any forward-looking statements.