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Aecon Group Inc (ARE.TO)

ARE.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Aecon Joint Venture Awarded Contract For Second Narrows Water Supply Tunnel Project In British Columbia
Thursday, 1 Nov 2018 

Nov 1 (Reuters) - Aecon Group Inc ::AECON JOINT VENTURE AWARDED CONTRACT FOR SECOND NARROWS WATER SUPPLY TUNNEL PROJECT IN BRITISH COLUMBIA.AECON GROUP INC - AWARDED A $267 MILLION CONTRACT BY METRO VANCOUVER FOR SECOND NARROWS WATER SUPPLY TUNNEL PROJECT IN BRITISH COLUMBIA.AECON GROUP INC - WORK WILL COMMENCE IN NOVEMBER 2018 AND PROJECT IS EXPECTED TO REACH COMPLETION BY END OF 2023.AECON GROUP INC - SCOPE OF WORK INCLUDES CONSTRUCTION OF TWO SHAFTS, ONE ON EACH SIDE OF BURRARD INLET, CONNECTED BY A 1,100-METRE TUNNEL.  Full Article

Aecon Agrees To Sell Contract Mining Business To North American Construction Group
Wednesday, 3 Oct 2018 

Oct 3 (Reuters) - Aecon Group Inc ::PRESS RELEASE - AECON AGREES TO SELL CONTRACT MINING BUSINESS TO NORTH AMERICAN CONSTRUCTION GROUP.AECON GROUP INC - TO SELL TO NACG SUBSTANTIALLY ALL OF ASSETS RELATED TO AECON'S CONTRACT MINING BUSINESS FOR $199.1 MILLION IN CASH.AECON GROUP INC - WILL CONTINUE TO OPERATE ITS CONTRACT MINING BUSINESS.AECON GROUP INC - NACG PAID AECON A $10 MILLION DEPOSIT, WHICH WILL BE APPLIED TO PURCHASE PRICE IF DEAL CLOSES AS CONTEMPLATED.AECON GROUP INC - BALANCE OF PRICE WILL BE PAID IN FOUR INSTALMENTS, WITH FIRST INSTALMENT OF $153.6 MILLION DUE AT CLOSING.AECON GROUP INC - IF SALE IS NOT COMPLETED DUE TO DEFAULT BY NACG OF OBLIGATIONS UNDER AGREEMENT, DEPOSIT WILL BE RETAINED BY AECON.  Full Article

North American Construction Group Announces Expansion Of Heavy Construction Fleet Via An Attractive Acquisition
Wednesday, 3 Oct 2018 

Oct 3 (Reuters) - North American Construction Group Ltd ::NORTH AMERICAN CONSTRUCTION GROUP ANNOUNCES EXPANSION OF HEAVY CONSTRUCTION FLEET VIA AN ATTRACTIVE ACQUISITION.NORTH AMERICAN CONSTRUCTION GROUP LTD - DEAL FOR $199.1 MILLION IN CASH.NORTH AMERICAN CONSTRUCTION GROUP - EXPECT TRANSACTION TO BE ACCRETIVE TO EBITDA, FREE CASH FLOW AND EARNINGS.NORTH AMERICAN CONSTRUCTION GROUP - ANTICIPATE 2019 BASIC EARNINGS PER SHARE COULD EXCEED $1.60, SUBJECT TO TRANSACTION CLOSING BY END OF 2018.NORTH AMERICAN CONSTRUCTION - DEAL WILL BE FULLY FINANCED AT CLOSING THROUGH UPSIZED & EXTENDED CREDIT FACILITY WITH NACG'S EXISTING LENDERS.NORTH AMERICAN CONSTRUCTION - NACG INTENDS TO USE OPERATIONAL CASH FLOW TO DE-LEVER ITS BALANCE SHEET BY AROUND $150 MILLION OVER NEXT THREE YEARS.NORTH AMERICAN CONSTRUCTION - DEAL WILL BE FULLY FINANCED AT CLOSING THROUGH UPSIZED & EXTENDED CREDIT FACILITY WITH CO'S EXISTING LENDERS.NORTH AMERICAN CONSTRUCTION - $10 MILLION DEPOSIT PAID UPON SIGNING AGREEMENT; BALANCE DEAL PRICE TO BE PAID IN 4 INSTALMENTS.NORTH AMERICAN CONSTRUCTION - ENTERED DEFINITIVE PURCHASE & SALE AGREEMENT TO BUY HEAVY CONSTRUCTION EQUIPMENT FLEET & RELATED ASSETS OF AECON GROUP.NORTH AMERICAN CONSTRUCTION GROUP - TRANSACTION EXPECTED TO PROVIDE CO WITH OVER $220 MILLION OF ADDITIONAL ANNUAL REVENUE CAPABILITY.  Full Article

Aecon Awarded Contract By Transcanada For Coastal Gaslink Pipeline Project In British Columbia
Tuesday, 2 Oct 2018 

Oct 2 (Reuters) - Aecon Group Inc ::AECON AWARDED PIPELINE CONSTRUCTION CONTRACT BY TRANSCANADA FOR COASTAL GASLINK PIPELINE PROJECT IN BRITISH COLUMBIA.AECON GROUP INC - SA ENERGY GROUP, A 50/50 JV BETWEEN AECON AND ROBERT B. SOMERVILLE CO. LTD, HAS BEEN AWARDED $526 MILLION CONTRACT BY TRANSCANADA.AECON GROUP INC - SUBSTANTIAL COMPLETION OF CONSTRUCTION OF PIPELINE IS ANTICIPATED BY NOVEMBER 2021 AND FINAL COMPLETION IS EXPECTED BY END OF 2022.AECON GROUP INC - SA ENERGY GROUP HAS BEEN AWARDED A $526 MILLION CONTRACT BY TRANSCANADA CORPORATION.AECON GROUP INC - EARLY WORKS FOR SPREADS 3 AND 4 WILL COMMENCE IN MID-2019, WITH CONSTRUCTION STARTING IN JULY 2020.  Full Article

Aecon Announces Partnership With Mikisew Group Of Cos
Monday, 30 Jul 2018 

July 30 (Reuters) - Aecon Group Inc ::AECON ANNOUNCES PARTNERSHIP WITH MIKISEW GROUP OF COMPANIES AND MASTER SERVICE AGREEMENT FOR FORT HILLS OIL SANDS PROJECT.AECON GROUP INC - TWO INITIAL CONTRACTS AWARDED UNDER MSA ARE EXPECTED TO HAVE AN ESTIMATED AGGREGATE VALUE OF APPROXIMATELY $100 MILLION.AECON GROUP - WORK ON INITIAL PROJECTS BEGAN IN Q2 OF 2018, BOTH EXPECTED TO REACH COMPLETION IN Q2 OF 2019.  Full Article

Aecon Reports Q2 Earnings Per Share C$0.13
Thursday, 26 Jul 2018 

July 26 (Reuters) - Aecon Group Inc ::AECON REPORTS SECOND QUARTER 2018 RESULTS, INCLUDING STRONG REVENUE, MARGIN AND PROFIT GROWTH, AS WELL AS RECORD BACKLOG OF $6.4 BILLION.Q2 EARNINGS PER SHARE C$0.13.Q2 EARNINGS PER SHARE VIEW C$0.09 -- THOMSON REUTERS I/B/E/S.REVENUE OF $755 MILLION FOR THREE MONTHS ENDED JUNE 30, 2018, WAS HIGHER BY $69 MILLION, OR 10 PER CENT, COMPARED TO Q2 OF 2017.RECORD BACKLOG AS AT JUNE 30, 2018 OF $6.4 BILLION.Q2 REVENUE VIEW C$676.1 MILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Aecon Awarded Pipeline Construction Contract By Enbridge In Manitoba
Wednesday, 18 Jul 2018 

July 18 (Reuters) - Aecon Group Inc ::AECON AWARDED PIPELINE CONSTRUCTION CONTRACT BY ENBRIDGE FOR LINE 3 REPLACEMENT PHASE 2 PROJECT IN MANITOBA.AECON GROUP INC - SA ENERGY GROUP JV HAS BEEN AWARDED A $282 MILLION CONTRACT BY ENBRIDGE PIPELINES INC.AECON GROUP INC - CONSTRUCTION IS EXPECTED TO COMMENCE IN AUGUST 2018, WITH ANTICIPATED SUBSTANTIAL COMPLETION BY END OF 2018.AECON GROUP - AWARD, COMBINED WITH AECON'S RECENT MAJOR PROJECT WINS, WILL SEE BACKLOG REACH RECORD LEVELS IN Q2 OF 2018.  Full Article

China Communications Construction Announces Termination Of Transaction To Acquire Aecon
Thursday, 24 May 2018 

May 25 (Reuters) - China Communications Construction Co Ltd <601800.SS>::CHINA COMMUNICATIONS CONSTRUCTION CO LTD - ANNOUNCES TERMINATION OF DISCLOSEABLE TRANSACTION IN RELATION TO PROPOSED ACQUISITION OF AECON.RECEIVED ORDER OF GOVERNOR IN COUNCIL UNDER SUBSECTION OF INVESTMENT CANADA ACT DIRECTING NOT TO IMPLEMENT INVESTMENT.  Full Article

Government Of Canada Rejects Aecon Sale To CCCI
Thursday, 24 May 2018 

May 23 (Reuters) - Aecon Group Inc ::GOVERNMENT OF CANADA REJECTS AECON SALE TO CCCI.ARRANGEMENT BETWEEN AECON AND CCCI WILL NOT PROCEED.AECON GROUP- GOVERNOR IN COUNCIL ISSUED ORDER UNDER INVESTMENT CANADA ACT DIRECTING CCCI NOT TO IMPLEMENT ITS PROPOSED ACQUISITION OF AECON.AECON IS NO LONGER ACTIVELY PURSUING A SALE PROCESS..COMPANY HAS REINSTATED ITS SEARCH FOR A NEW CHIEF EXECUTIVE OFFICER.SPECIAL COMMITTEE OF BOARD OF DIRECTORS HAS BEEN DISSOLVED.  Full Article

Canada Blocks China's CCCC International Holding's bid to buy aecon Group
Wednesday, 23 May 2018 

May 23 (Reuters) - Aecon Group Inc ::CANADA BLOCKS CHINA'S CCCC INTERNATIONAL HOLDING'S BID TO BUY AECON GROUP -GOVERNMENT SPOKESMAN.  Full Article

CANADA STOCKS-TSX futures up after severe weekly loss

Oct 29 Futures for Canada's main stock index rose on Monday, after a massive sell-off pulled down the bourse last week.