Canadian-led partnership celebrates flawless commencement of commercial flight
operations at New Quito International Airport
TORONTO, Feb. 20, 2013 /CNW/ - Aecon Group Inc. (TSX: ARE) is pleased to
announce the commencement of commercial flight operations today at the
state-of-the-art New Quito International Airport in Ecuador.
A Canadian-led initiative, the project has significant Canadian contributors
including: Aecon as partner of both the construction joint venture and the
concessionaire; Canadian Commercial Corporation as prime contractor; Export
Development Canada as a lender; as well as MMM Group, a Canadian engineering
and design firm.
"The Quito Airport project is illustrative of what Canadian firms bring to
complex international construction projects: construction expertise,
state-of-the-art architectural design and engineering, as well as the
successful implementation of a public-private-partnership," said John M. Beck,
Chairman and CEO of Aecon Group Inc. "This decade-long achievement wouldn't
have been possible without the successful partnership between Canada and
Ecuador and it is a pleasure to celebrate this achievement with our Canadian
and international partners and lenders, the Republic of Ecuador, and the
Municipality of Quito."
Aecon has built the greenfield airport as part of a 50/50 joint venture with
Andrade Gutierrez Constructores S.A., a construction company based in
Brazil. Work on the engineer/procure/construct contract involved all
critical infrastructure for the airport including the passenger terminal,
runways, control tower, ancillary buildings, as well as the supply and
integration of the IT, navigation and security systems.
The airport has been constructed for Corporaciσn Quiport S.A. (Quiport), the
concessionaire of the airport in which Aecon holds a 42.3 per cent economic
stake. Aecon's partners in Quiport are: CCR S.A., Airport Development
Corporation of Toronto and HAS Development Corporation of Houston, Texas
(affiliated with the Houston Airport System). Senior lenders of the project
are: US-based Overseas Private Investment Corporation, Export-Import Bank of
the USA, the Inter-American Development Bank, as well as Export Development
"I am incredibly proud of Aecon and our partners for collaboratively
completing what is now the most advanced airport in Latin America," said Steve
Nackan, President, Aecon Concessions. "This award-winning project has been
developed with the highest standards in construction, sustainability, project
development and financing, and we thank all our partners for their
Aecon Group Inc. is a Canadian leader in construction and infrastructure
development providing integrated turnkey services to private and public sector
clients. Aecon is pleased to be consistently recognized as one of the Best
Employers in Canada.
The information in this press release includes certain forward-looking
statements. These "forward-looking" statements are based on currently
available competitive, financial and economic data and operating plans but are
subject to risks and uncertainties. In addition to events beyond Aecon's
control, there are factors which could cause actual or future results,
performance or achievements to differ materially from those expressed or
inferred herein including, but not limited to: the timing of projects,
unanticipated costs and expenses, general market and industry conditions and
operational and reputational risks, including Large Project Risk and
Contractual Factors. Readers are referred to the specific risk factors
relating to and affecting Aecon's business and operations as filed by Aecon
pursuant to applicable securities laws. Forward-looking statements may
include, without limitation, statements regarding the operations, business,
performance, prospects, strategies and outlook for Aecon. Forward-looking
statements, may in some cases be identified by words such as "will," "plans,"
"believes," "expects," "anticipates," "estimates," "projects," "intends,"
"should" or the negative of these terms, or similar expressions. Except as
required by applicable securities laws, forward-looking statements speak only
as of the date on which they are made and Aecon undertakes no obligation to
publicly update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
Vince Borg Senior Advisor, Corporate Affairs Aecon Group Inc. 416-297-2615
SOURCE: Aecon Group Inc.
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-0- Feb/20/2013 16:58 GMT
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