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Atco Ltd
Symbol ACO
Shares Issued 101,508,423
Close 2015-03-26 C$ 45.93
Market Cap C$ 4,662,281,868
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Atco JV wins $45M lodge operation contract

2015-03-26 19:22 ET - News Release

Mr. George Lidgett reports

ATCO PARTNERSHIP WINS LODGE OPERATION CONTRACT

Torngait Services Inc. (TSI), a partnership between Atco Ltd.'s Atco Structures & Logistics and the Nunatsiavut Group of Companies (NGC), has been awarded a contract by Valard Construction LP to operate five work force accommodation lodges in Newfoundland and Labrador.

The 36-month, occupancy-based contract will see TSI provide catering, janitorial and commercial laundry services to five 100- to 300-person lodges housing workers constructing the Muskrat Falls transmission project. The contract is valued at approximately $40-million to $45-million.

"We are very pleased to have the opportunity to expand TSI's operations in Atlantic Canada and bring our catering services to Newfoundland and Labrador," said George Lidgett, president, Atco Structures & Logistics. "TSI will provide top-quality services for lodge residents, while partnering with local aboriginal groups, residents and businesses to deliver on this important project."

TSI, an aboriginally owned business, provides logistics and support services to the mining and exploration companies in Labrador, with expertise in water treatment, road maintenance, fuel and hazardous materials management, site support, and core drilling services.

NGC is wholly owned by the Labrador Inuit Capital Strategy Trust, an aboriginal company with a mission to create wealth in trust for Nunatsiavut beneficiaries by owning profitable sustainable businesses. Its business lines include marine transportation, air transportation, commercial real estate, civil works, remote camp operations and logistics. NGC brings capacity and expertise to projects in Labrador and beyond.

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