NAPEC Inc. Announces Contracts With a Total Value of Approximately $67.1 Million
(firmenpresse) - DRUMMONDVILLE, QUEBEC -- (Marketwired) -- 08/04/16 -- NAPEC Inc. ("NAPEC" or "the Corporation") (TSX: NPC) today announced that its subsidiaries have recently been awarded several contracts worth a total value of approximately $67.1 million. Execution of the work begins in the third quarter of 2016.
First, the U.S.-based subsidiary Riggs Distler & Company, Inc. ("RDC") was awarded contracts with an aggregate value of approximately US $43.5 million, equivalent to about Cdn $57.0 million based on the current exchange rate. These agreements include:
Second, the Canadian subsidiary Thirau Inc. ("Thirau") was awarded several contracts with a total value of approximately $10.1 million. These agreements include:
"These contracts show the wide extent of NAPEC''s service offering and geographical coverage. The scope of the U.S. contracts confirms RDC''s leading position with respect to refinery-related work and we are also pleased with the customer diversity of the new business awarded to Thirau. These contracts will contribute to results in the second half of the current fiscal year and beyond, as per the terms of each agreement", 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 company operating in the energy sector. The Corporation is a leading provider of construction and maintenance services 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 systems and natural gas networks. The Corporation also installs gas-powered and electric-powered heavy equipment for utilities, gas-fired industrial power plants and petrochemical facilities in North America. The Corporation also offers environmental construction and road matting services.
Further information regarding NAPEC is available in the SEDAR database () and on the Corporation''s website at .
Contacts:
Source:
NAPEC Inc.
Contacts:
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: 04.08.2016 - 06:30 Uhr
Sprache: Deutsch
News-ID 1450847
Anzahl Zeichen: 3769
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DRUMMONDVILLE, QUEBEC
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Utilities
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