NAPEC Inc. Announces New Contracts With a Total Value of Close to $60.0 Million
(firmenpresse) - DRUMMONDVILLE, QUEBEC -- (Marketwired) -- 04/12/17 -- NAPEC Inc. ("NAPEC" or the "Corporation") (TSX: NPC) today announced that its subsidiaries have recently been awarded new contracts representing an aggregate value estimated at close to $60.0 million.
First, the U.S. subsidiary Riggs Distler & Company, Inc. ("RDC") was awarded two contracts with a total value of approximately US $40.0 million, equivalent to about Cdn $53.4 million based on the current exchange rate. These agreements include :
Second, the Canadian subsidiary Thirau Inc. ("Thirau") obtained two contracts from Hydro-Quebec with an aggregate value of approximately $6.3 million. These agreements include:
"These contracts highlight the wide range of NAPEC''s service offering. The work awarded to RDC includes the provision of several high value-added activities, which further enhances our status as a reliable contractor in the U.S. electricity transmission and solar energy markets. Meanwhile, Thirau remains a leading player in Quebec given its solid, longstanding relationship with Hydro-Quebec and its numerous expertise areas. These contracts will strongly contribute to our 2017 results 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, petrochemical facilities, and solar panel farms in North America. The Corporation also offers environmental construction and road matting services.
Additional information on NAPEC can be found 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: 12.04.2017 - 06:30 Uhr
Sprache: Deutsch
News-ID 1498229
Anzahl Zeichen: 2117
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DRUMMONDVILLE, QUEBEC
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Utilities
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