North American Construction Group Ltd. Announces the Award of a Significant Term Contract for Earthworks in the Oilsands
June 04 2018 - 5:17PM
North American Construction Group Ltd. (“NACG” or “the Company”)
(TSX:NOA.TO) (NYSE:NOA) today announced the successful negotiation
of a two year extension to a key Master Services Agreement, with a
major oil sands customer, taking the expiration date to August
2022. As part of the associated work scope, the Company has
secured a three year term commitment for overburden removal,
commencing after the completion of the previously announced 2018
work. The value of this backlog is expected to be around $120
million.
Martin Ferron, Chairman and CEO, stated: “We
believe that demand for safe and cost-effective earthworks services
in the oil sands remains very strong, resulting in a tightening of
suitable equipment availability. In these positive circumstances,
we are delighted to have negotiated our first term contract in
several years.”
About the Company
North American Construction Group Ltd.
(www.nacg.ca) is the premier provider of heavy construction and
mining services in Canada. For more than 60 years, NACG has
provided services to large oil, natural gas and resource companies.
The Company maintains one of the largest equipment fleets in the
region.
For further information, please
contact:
David Brunetta, CPA, CMA Director; Finance, Investor Relations,
Information Technology and TreasuryNorth American Construction
Group Ltd. Phone: (780) 969-5574 Email: dbrunetta@nacg.ca
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