NAPEC Inc. Announces Contracts With a Total Value of Close to $90.0 Million
(firmenpresse) - DRUMMONDVILLE, QUEBEC -- (Marketwired) -- 04/21/15 -- NAPEC Inc. ("NAPEC" or the "Corporation") (TSX: NPC) today announced that its subsidiaries have been awarded several contracts with a total value of almost $90.0 million.
First, U.S.-based subsidiary Riggs Distler & Company, Inc. ("RDC") has been awarded contracts worth an aggregate value of approximately US $67.0 million (Cdn $82.4 million). These agreements include:
Second, Quebec-based subsidiary Thirau ltee ("Thirau") has been awarded a two-year contract by an important telecommunications company to install poles and anchors. The agreement represents a total value of $7.0 million over two years and also includes a one-year renewal option exercisable at the client''s discretion. Work begins in April 2015.
"These contracts further attest to NAPEC''s leading position and solid reputation in numerous areas of expertise. The diversity in the scope of the contracts awarded to RDC and their geographical reach illustrate its wide-ranging coverage in the eastern United States. Meanwhile, the contract with the telecommunications company validates Thirau''s efforts to leverage its know-how by diversifying its customer base. These new contracts further increase the value of our backlog, which currently stands at its highest level in more than three years", said Pierre L. Gauthier, President and Chief Executive Officer of NAPEC.
FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements that reflect management''s current expectations regarding future events. Forward-looking statements are based on a number of factors and include risks and uncertainties. Actual results may differ from forecast results. Management assumes no obligation beyond what is required under the law to update or revise forward-looking statements pursuant to new information or future events.
OVERVIEW OF THE CORPORATION
NAPEC is a corporation operating in the energy sector. The Corporation is a leading service provider to the public utility and heavy industrial markets mainly in Quebec, Ontario, and the eastern United States. NAPEC and its subsidiaries build and maintain electrical transmission and distribution grids, as well as networks for gas utilities. In addition, the Corporation installs gas-powered and electric-powered heavy equipment for utilities, industrial gas power plants, and petro-chemical facilities in North America.
Further information regarding NAPEC is available in the SEDAR database () and on the Corporation''s website at .
Contacts:
Source: NAPEC Inc.
Pierre L. Gauthier
President and Chief Executive Officer
819-479-7771
Mario Trahan, CPA, CMA
Chief Financial Officer
819-479-7771
MaisonBrison
Martin Goulet, CFA
514-731-0000
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Datum: 21.04.2015 - 06:30 Uhr
Sprache: Deutsch
News-ID 1352826
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