Mr. Martin Ferron reports
NORTH AMERICAN CONSTRUCTION GROUP LTD. ANNOUNCES THE AWARD OF A SECOND SIGNIFICANT TERM CONTRACT FOR EARTHWORKS IN THE OILSANDS
North American Construction Group Ltd. has negotiated a second term contract related to the recently notified extension to a key master service agreement, with a major oil sands customer. The work scope involves mine reclamation services and has a duration of three years, commencing with this winter season. The value of this incremental backlog is expected to be around $160-million.
Martin Ferron, chairman and chief executive officer, stated: "It appears to become a trend that customers are willing to consider term contracts to lock in heavy equipment availability in a tightening marketplace. This much improves our work visibility and provides us with a more positive operating environment in which to make capital allocation decisions."
About North American Construction Group Ltd.
North American Construction Group is the premier provider of heavy construction and mining services in Canada. For more than 60 years, North American Construction Group has provided services to large oil, natural gas and resource companies. The company maintains one of the largest equipment fleets in the region.
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