CALGARY, Dec. 4, 2013 /CNW/ - Petrowest Corporation ("Petrowest" or the
"Company") announces that it has been awarded an additional two custom
crushing sub-contracts on the expansion of Highway 63, the main highway
connecting Edmonton to Fort McMurray, Alberta. The value of the new
contracts is estimated to be $26 million in total.
In addition, the Corporation announced that the scope of work of its
previously-announced (August 13, 2013) aggregate crushing contract has been
reduced from $13.5 million to approximately $9 million.
The Civil division now has a total of three sub-contracts on Highway 63
totalling approximately $35 million. Most of this work is required to be
completed by the end of the first quarter of 2014 and is commencing
"This is the largest commitment of crushing work for winter completion in the
Company's history" said Rick Quigley, CEO, "it will certainly give us a great
start to our next fiscal year."
Certain of the statements made and information contained herein, including the
value of the contract awards, is "forward-looking information" within the
meaning of applicable Canadian securities legislation. Forward-looking
statements are subject to a variety of risks and uncertainties which could
cause actual events or results to differ from those reflected in the
forward-looking statements, including, without limitation, risks and
uncertainties relating to unanticipated difficulties with or shortages of
labour or interruptions in operations; the inherent uncertainty of cost
estimates; and other risks and uncertainties, including those described under
risk factors in the Company's current Annual Information Form and management
discussion and analysis. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described in forward-looking statements. The
forward-looking information contained herein is presented for the purpose of
assisting investors in understanding the Company's plans and objectives and
may not be appropriate for other purposes. Accordingly, readers are advised
not to place undue reliance on forward-looking statements.
Petrowest is an Alberta corporation involved in pre-drilling and
post-completion energy services as well as industrial and civil infrastructure
projects, gravel crushing and hauling for non-energy sector customers.
Petrowest's primary operations are based in the Grande Prairie area of
northern Alberta and in northeastern British Columbia.
SOURCE Petrowest Corporation
For further information, please contact Richard Quigley, President and Chief
Executive Officer, at (780) 830‐0881, or Ian Hogg, Vice President,
Corporate Affairs, at (403) 384-0407, or Lloyd Wiggins, Chief Financial
Officer, at (416) 572-2160, orinfo@petro‐west.com.
To view this news release in HTML formatting, please use the following URL:
CO: Petrowest Corporation
NI: OIL ORDER
-0- Dec/04/2013 13:00 GMT
Press spacebar to pause and continue. Press esc to stop.