Aecon awarded $100 million in key mining contracts

EDMONTON, June 11, 2014 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that it has been awarded approximately $100 million in key mining contracts, to be booked in the second quarter of 2014.   

Aecon has been awarded a contract by K+S Potash Canada for work on their Legacy mining project in Saskatchewan for early cavern development which involves mechanical, electrical, piping and instrumentation work.  This work is expected to be complete in the last quarter of 2014. 

Additionally, Aecon was awarded a contract by Lafarge Canada for the erection of a preheater tower, rotary kiln and cooler equipment for the Exshaw Expansion project in Alberta.  The project involves structural, mechanical and civil work. Work will begin this month, with expected completion in the first quarter of 2015.     

"We are very pleased to be awarded these significant mining projects," said Teri McKibbon, Aecon's President & Chief Operating Officer.  "Aecon's diverse service offering, which includes heavy civil and mechanical expertise, is ideally suited for these projects."

Aecon will hold its Annual General Meeting this morning at The Westin Hotel in Edmonton, Alberta. Visit aecon.com to tune in to the live webcast at 9 a.m. MT. 

Aecon Group Inc. is a Canadian leader in construction and infrastructure development providing integrated turnkey services to private and public sector clients. Aecon is pleased to be consistently 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 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.  Forward-looking statements may include, without limitation, statements regarding the operations, business, performance, prospects, 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.  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.

Vince Borg, Senior Vice President, Corporate Affairs, Aecon Group Inc., 416-297-2615, [email protected], www.aecon.com