North American Construction Group Ltd. Announces the Award of a Second Significant Term Contract for Earthworks in the Oilsan...
June 20 2018 - 6:03PM
North American Construction Group Ltd. (“NACG” or “the Company”)
(TSX:NOA.TO) (NYSE:NOA) today announced the successful negotiation
of a second term contract related to the recently notified
extension to a key Master Services Agreement, with a major oil
sands customer. The work-scope involves mine reclamation services
and has 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 CEO, stated: “It
appears to becoming 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 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; Investor RelationsNorth
American Construction Group Ltd. Phone: (780) 969-5574 Email:
dbrunetta@nacg.ca
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