HOUSTON, Aug. 3, 2017 /PRNewswire/ -- Quanta
Services, Inc. (NYSE:PWR) announced today that it was selected by
Enbridge Pipelines Inc. (Enbridge) for two spreads of the Canadian
section of the Line 3 Replacement Program. Quanta's scope of work
includes the construction and installation of approximately 168
miles (270 kilometers) of new 36-inch diameter crude oil mainline
pipe, which will begin in Hardisty,
Alberta and continue into the province of Saskatchewan, Canada. Quanta's construction on
the project will begin in August 2017
and is anticipated to continue through 2019.
"Quanta is pleased to partner with Enbridge on this project,
which will generate jobs and is expected to benefit the communities
where construction will occur," said Duke
Austin, Quanta's President and Chief Executive Officer.
"Quanta is working collaboratively with Enbridge to maximize the
economic opportunities for local and Indigenous communities and we
look forward to breaking ground on this important safety and
maintenance project."
About Quanta Services
Quanta Services is a leading
specialized contracting services company, delivering infrastructure
solutions for the electric power, oil and gas and communications
industries. Quanta's comprehensive services include designing,
installing, repairing and maintaining energy and communications
infrastructure. With operations throughout the United States, Canada, Latin
America, Australia and
select other international markets, Quanta has the manpower,
resources and expertise to safely complete projects that are local,
regional, national or international in scope. For more information,
visit www.quantaservices.com.
Forward Looking Statements
This press release (and
any oral statements regarding the subject matter of this press
release) contains forward-looking statements intended to qualify
for the "safe harbor" from liability established by the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include, but are not limited to, any expected value of
the contract or project; the scope, services, terms and results of
the project awarded under the contract; the expected economic
impact of the project, including with respect to employment; the
anticipated commencement and completion dates for the project; and
the safety, efficiency or success of the project; as well as
statements reflecting expectations, intentions, assumptions or
beliefs about future events and other statements that do not relate
strictly to historical or current facts. Although Quanta's
management believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance
that such expectations will prove to be correct. These
statements can be affected by inaccurate assumptions and by a
variety of risks and uncertainties that are difficult to predict or
beyond our control, including, among others, the effects of
industry, economic or political conditions outside of the control
of Quanta; successful performance and completion of the contract
and the project awarded thereunder; failure to realize the
anticipated value of the contract or the project; delays,
reductions in scope or cancellations of the contract or the project
awarded thereunder, including as a result of weather, regulatory or
environmental issues, project performance issues, claimed force
majeure events, or customer capital constraints; the potential for
claims associated with schedule delays, performance shortfalls or
Quanta's inability or failure to comply with the terms of the
contract for the project, which may result in additional costs,
unexcused delays, warranty claims, failure to meet performance
guarantees, damages or contract termination; the inability or
refusal of the customer to pay for Quanta's services; failure of
the customer to comply with applicable regulatory requirements,
which could result in delay or cancellation of the project; the
failure of subcontractors to perform their obligations, including
warranty obligations, under their subcontracts; adverse changes in
economic conditions and trends in relevant markets; cancellation
and termination provisions present in the contract; and other risks
and uncertainties detailed in Quanta's Annual Report on Form 10-K
for the year ended Dec. 31, 2016,
Quanta's Quarterly Report on Form 10-Q for the quarter ended
Mar. 31, 2017 and any other documents
that Quanta files with the Securities and Exchange Commission
(SEC). For a discussion of these risks, uncertainties and
assumptions, investors are urged to refer to Quanta's documents
filed with the SEC that are available through the company's website
at www.quantaservices.com or through the SEC's Electronic Data
Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov.
Should one or more of these risks materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those expressed or implied in any forward-looking statements.
Investors are cautioned not to place undue reliance on these
forward-looking statements, which are current only as of this date.
Quanta does not undertake and expressly disclaims any obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Quanta
further expressly disclaims any written or oral statements made by
any third party regarding the subject matter of this press
release.
Investors - Kip Rupp,
CFA
|
Media – Deborah Buks
and Molly LeCronier
|
Quanta Services,
Inc.
|
Ward
|
(713)
341-7260
|
(713)
869-0707
|
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SOURCE Quanta Services, Inc.