Bird Construction Inc. Notice To Proceed On Multi-Year Task Order By Canadian Nuclear Laboratories

MISSISSAUGA, ON, Nov. 3, 2022 /CNW/ - Bird Construction Inc. (TSX: BDT) announced today that it has received a limited notice to proceed with early work (pre-mobilization) for a strategically important multi-year task order under the previously announced Port Hope Area Initiative ("PHAI") Master Construction Contract ("MCC") by Canadian Nuclear Laboratories ("CNL") for an undisclosed amount.

The work involves the remediation of approximately 400 sites in the municipality of Port Hope. The overarching MCC includes close to one billion dollars in remediation work, where Bird has the opportunity to bid on multiple work packages.

"We are focused on building a strong working relationship with our client and the community as we undertake this important environmental remediation work," said Teri McKibbon, President and CEO of Bird. "The multi-year nature of the task order and significant volume of work required under the MCC supports Bird's strategy to grow our recurring revenue streams in future years. Notably, this contract expands our recurring revenue streams in the energy sector,  driving continued diversification and top-line growth potential for our industrial portfolio in Ontario."

This press release contains forward-looking information (as defined in applicable Canadian securities legislation) that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to materially differ from those expressed or implied by the forward-looking information.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

For further information contact:

T.L. McKibbon, President & CEO or
W.R. Gingrich, CFO
Bird Construction Inc.
5700 Explorer Drive, Suite 400
Mississauga, ON L4W 0C6
Phone: [phone]

About Bird Construction

Bird (TSX: BDT) is a leading Canadian construction company operating from coast-to-coast and servicing all of Canada's major markets. Bird provides a comprehensive range of construction services from new construction for industrial, commercial, institutional, and civil infrastructure markets; to industrial maintenance, repair and operations services, heavy civil construction, and mine support services; as well as vertical infrastructure including, electrical, mechanical, and specialty trades. For over 100 years, Bird has been a people-focused company with an unwavering commitment to safety and a high level of service that provides long-term value for all stakeholders. www.bird.ca

SOURCE Bird Construction Inc.