Toronto Stock Exchange: ARF; ARF.DB
GUELPH, ON, Dec. 21, 2011 /CNW/ - Armtec Infrastructure Inc. ("Armtec") (TSX: ARF)(TSX: ARF.DB) today announced it has been awarded a contract, valued at approximately $32 million, with Bechtel Canada Co., who is acting as the agent for Rio Tinto Alcan, to supply precast components for the Kitimat Modernization Project. Manufacturing of these elements is expected to be completed over a two year time frame and is scheduled to get underway early in 2012.
Rio Tinto Alcan's modernization project is a major expansion and upgrade of its aluminum smelter in Kitimat, B.C., with completion of the US$3.3 billion project expected in 2014. When completed, the fully modernized smelter will be equipped with leading-edge smelter technology that will increase production capacity by 48% to 420,000 tonnes from 282,000 tonnes, while reducing emissions by about 50%.
"We are very pleased to have been selected for this important contract to supply a comprehensive range of precast components as part of the Kitimat Modernization Project. We are also pleased to have achieved Engineered Solutions project bookings in excess of $75 million for the fourth quarter, exceeding our previous estimate of $50 million," said Mark Anderson, President and Chief Executive Officer. "This award is further recognition by the industry of our reputation as a leading manufacturer of high-quality products and services to our valued customers, while strengthening our position as a long-term player in infrastructure markets across Canada."
ABOUT ARMTEC INFRASTRUCTURE INC.
Armtec is a leading manufacturer and marketer of a comprehensive range of infrastructure products and engineered construction solutions for customers in a diverse cross-section of industries that are located in every region of Canada, as well as in selected markets globally. These markets include Canada's national and regional public infrastructure markets and private sector markets in agricultural drainage, commercial building, residential construction and natural resources. Operating through its network of regional offices and production facilities across the country, Armtec's broad range of engineered solutions include products for drainage, bridge applications, soil retention, rehabilitation and water management systems including corrugated high-density polyethylene, corrugated steel and concrete pipe; an array of architectural and structural precast and pre-stressed concrete products from steps, paving stones, slabs and wall panels to highly engineered structural components designed and installed for projects such as bridges, sports venues and parking garages; and a full suite of noise barriers, acoustic enclosure and wall systems along with associated retaining wall and traffic barrier systems.
This news release contains "forward-looking" statements within the meaning of applicable securities legislation which involve known and unknown risks, uncertainties and other factors which may cause the actual results, events, performance or achievements of Armtec or industry results, to be materially different from any future results, events, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements typically contain such words or phrases as "may", "outlook", "objective", "intend", "estimate", "anticipate", "should", "could", "would", "will", "expect", "believe", "plan" and other similar terminology suggesting future outcomes or events. Forward-looking statements reflect current expectations regarding future results, events, performance and achievements and are based on information currently available to Armtec's management, anticipated operating and financial results of Armtec, and current and anticipated market conditions.
Forward-looking statements involve numerous assumptions and should not be read as guarantees of future results, events, performance or achievements. Such statements will not necessarily be accurate indications of whether or not such future results, events, performance or achievements will be achieved. You should not unduly rely on forward-looking statements as a number of factors, many of which are beyond the control of Armtec, could cause actual results, events, performance or achievements to differ materially from the results, events, performance or achievements discussed in the forward-looking statements, including, but not limited to the factors discussed in Armtec's materials filed with the Canadian securities regulatory authorities from time to time. Although the forward-looking statements contained in this news release are based upon what management of Armtec believes are reasonable assumptions, Armtec cannot assure investors that actual results, events, performance or achievements will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. These forward-looking statements are made as of the date of this news release and, except as required by applicable law, Armtec assumes no obligation to update or revise them to reflect new events or circumstances.
For further information:
|Mark D. Anderson||James R. Newell||Carrie Boutcher|
|President & Chief Executive Officer||Chief Financial Officer||Vice President, Investor Relations & Treasurer|
|Tel: (519) 822-0210||Tel: (519) 822-0210||Tel: (519) 822-0210|
|Fax: (519) 822-8894||Fax: (519) 822-8894||Fax: (519) 822-8894|