Aecon awarded mining project for Fort Hills oil sands project

EDMONTON, June 23, 2014 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that it has been awarded a mining contract with an estimated value of $123 million by Fort Hills Energy L.P. for mining site development at the Fort Hills oil sands project in Alberta. 

Work will commence later this month, and is expected to be complete in the second quarter of 2016. 

"We are very pleased to work with Fort Hills and its Operator, Suncor Energy Operating Inc.  Suncor is a long-time, valued client," said Teri McKibbon, Aecon's President & Chief Executive Officer.  "Aecon has recently announced three key mining contracts – a solid foundation of backlog for the Mining segment as we enter the second half of the year, and further utilization of our mining fleet of equipment."

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