NAPEC Inc. Announces Contracts With a Total Value of Approximately $245 Million
(firmenpresse) - DRUMMONDVILLE, QUEBEC -- (Marketwired) -- 01/14/16 -- NAPEC Inc. ("NAPEC" or "the Corporation") (TSX: NPC) today announced that its subsidiaries have been awarded several contracts representing an aggregate value of approximately $245 million, based on current exchange rates. All of these contracts represent new business for NAPEC and span most of the Corporation''s service offering.
First, the U.S.-based subsidiary Riggs Distler & Company, Inc. ("RDC") has been awarded contracts worth a total value of US $163.8 million (Cdn $232.8 million). These agreements include:
Second, the Canadian subsidiary Thirau Inc. has been awarded three contracts with an aggregate value of approximately $12.9 million. These agreements include:
"These contracts demonstrate the wide extent of NAPEC''s service offering and geographical coverage, as well as our solid relationships with leading utility service providers. We are very pleased with the long-term mandate to construct and maintain a gas distribution network, as it validates our strategic decision to focus on this growing market. In addition, the Mid-West contract highlights the benefits of our recently-acquired expertise in matting services that we are gradually leveraging across our network. Finally, the agreements to install photovoltaic systems and one of the Hydro-Quebec contracts show our subsidiaries'' leading position in the renewable energy market", 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, gas-fired industrial power plants, and petrochemical 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: 14.01.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 1408918
Anzahl Zeichen: 3142
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DRUMMONDVILLE, QUEBEC
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Utilities
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