Premier Christy Clark Launches $100 Million Britco Project
VANCOUVER, Sept. 27, 2013
Contract to Provide Equivalent of 275 Full Time Jobs for a Year
VANCOUVER, Sept. 27, 2013 /PRNewswire/ - Premier Christy Clark will be in
Penticton today to launch an approximately $100 million project for BC-based
Britco, one of the largest modular construction companies in Canada, and a
division of WesternOne Inc. ("WesternOne") (Toronto Stock Exchange: WEQ,
WEQ.DB, WEQ.DB.B and WEQ.DB.C).
The project involves Britco designing and building accommodations for a large
workforce housing project in Northern Alberta for Devon Energy Corporation, a
major oil and natural gas exploration and production company. The workforce
accommodations will be comprised of over 1,500 rooms that will be built in
Britco's modular construction facilities in Agassiz and Penticton, British
Premier Clark will be meeting about 250 Britco employees, suppliers, and
sub-contractors at Britco's Penticton facility, "Britco's success shows that
our plan to attract investment in B.C.'s energy and resource sector will pay
off in jobs and opportunities for citizens across the province."
Premier Clark's focus on job creation is also based on diversifying the BC
economy and attracting new investment, "As we reach out to new markets and
customers in Asia, we are providing opportunities for companies right here in
British Columbia like Britco to invest in their businesses, to expand their
operations and to create new jobs."
This will be the second project undertaken by Britco for Devon. Earlier this
year, Britco completed work on an 880 room workforce accommodation facility in
the same region. Work on the new project will start in October of this year
and the project is scheduled to be completed and fully commissioned in
December of 2015.
"These types of housing projects are an important element in our business
success", stated Chris Seasons, President, Devon Canada Corporation. "In
order to draw the best and brightest to work on our successful oil sands
projects, we need superior accommodations. Britco delivered a quality product
safely and on time. They are an excellent example of oil sands benefits
flowing directly to the people and province of British Columbia."
Large projects such as those for Devon have not only driven job growth at
Britco across British Columbia but also have helped establish Britco as a
leading provider of workforce accommodations in Canada. Britco's workforce in
BC has more than doubled in recent years and the company now has over 500
employees in Western Canada.
"We are proud to be working with Devon on this important project and look
forward to designing and building one of the most advanced workforce
accommodation complexes anywhere in Canada," said Rob King, CEO of WesternOne.
The primary driver for Britco's growth in recent years has been the demand for
workforce housing in the energy, mining and infrastructure sectors in Western
Canada and the United States.
Last year, Britco signed a contract to design and build a 2,000 room workforce
accommodation complex for Manitoba Hydro. The project involves providing
workforce accommodations required for the construction of the Keeyask
Generating Station Project in Northern Manitoba.
Stated King, "Work on projects in the resource and energy sector in BC's north
and in Alberta has allowed us to not only create jobs here in BC but also has
provided us with the opportunity to expand internationally to Australia and to
the United States."
Combined, Britco has approximately 1,000 employees working at its operations
in Canada, Australia and the United States.
Certain statements in this press release may constitute "forward-looking"
information that involves known and unknown risks, uncertainties and other
factors, and it may cause actual results, performance or achievements or
industry results, to be materially different from any future results,
performance or achievements or industry results expressed or implied by such
forward-looking information. Forward-looking information is identified by the
use of terms and phrases such as "anticipate", "believe", "could", "estimate",
"expect", "intend", "may", "plan", "predict", "project", "will", "would", and
similar terms and phrases, including references to assumptions. Such
information includes, without limitation, statements with respect to: the
design and build of a large workforce housing project in Northern Alberta, the
particular facilities to be used by Britco to manufacture the required modular
buildings, and the start and completion dates of the project. Actual events or
results may differ materially.
Forward-looking information contained in this press release is based on
certain key expectations and assumptions made by WesternOne, including,
without limitation, expectations and assumptions respecting: the outlook of
WesternOne's business and the economy in Western Canada, the supply and demand
for WesternOne's products and services and management's assessment of future
plans and operations. Although the forward-looking information contained in
this press release is based upon what the WesternOne's management believes to
be reasonable assumptions, WesternOne cannot assure investors that actual
results will be consistent with such information. Forward-looking information
reflects current expectations of management regarding future events and
operating performance as of the date of this press release. Such information
involves significant risks and uncertainties, should not be read as guarantees
of future performance or results, and will not necessarily be accurate
indications of whether or not such results will be achieved. A number of
factors could cause actual results to differ materially from the results
discussed in the forward-looking information, and a description of these
factors can be found under "Risk Factors" in WesternOne's Annual Information
Form dated March 28, 2013 and Management's Discussion and Analysis dated
August 14, 2013, which are available on SEDAR (www.sedar.com).
The forward-looking information contained herein is expressly qualified in its
entirety by this cautionary statement. Forward-looking information reflects
management's current beliefs and is based on information currently available
to WesternOne. The forward-looking information is made as of the date of this
press release and WesternOne assumes no obligation to update or revise such
information to reflect new events or circumstances, except as may be required
by applicable law.
WesternOne seeks to acquire and grow businesses in the construction and
infrastructure services sectors in order to generate stable and growing
dividends to its shareholders and to achieve capital. Additional information
relating to WesternOne and other public filings is available on SEDAR at
www.sedar.com or on WesternOne's website at www.weq.ca.
With over 1,000 employees in Australia, Canada, and the United States, Britco
is one of the largest modular construction companies in the industry.
Britco provides temporary and permanent residential and commercial modular
buildings and offers leading design-build capabilities as well as turn-key
construction project management services for a wide range of customers in the
infrastructure, construction, energy and resource sectors.
Britco is headquartered in Langley, British Columbia. Additional information
about Britco is available at www.britco.com or www.weq.ca.
Toronto Stock Exchange: WEQ, WEQ.DB, WEQ.DB.B and WEQ.DB.C
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY
FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
SOURCE WesternOne Inc.
For investor relations information, please contact:
Andrew Greig, Manager of Investor Relations
Suite 910, 925 West Georgia Street
Vancouver, BC V6C 3L2
Phone: (604) 678-4042
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