LISTING: TORONTO STOCK EXCHANGE
SYMBOL: BDT
Bird Construction Inc. (“Bird”) announced today that the Contract for the engineering, procurement and construction of LNG Canada’s Cedar Valley Lodge project (the “Cedar Valley Lodge”) has been novated to LNG Canada’s EPC contractor (“EPC Contractor”) and the EPC Contractor has issued a notice to proceed. Cedar Valley Lodge will house workers for the construction of LNG Canada’s export terminal project in Kitimat, B.C.
Bird and Civeo Corp (“Civeo”) formed a joint venture (the “Bird-Civeo JV”) in 2015 that pursued the Cedar Valley Lodge project. In May 2016, LNG Canada announced that the Bird-Civeo JV was the successful proponent for the engineering, procurement and construction of the Cedar Valley Lodge, and the parties signed a contract (the “Contract”) with a limited notice to proceed until fina investment decision (“FID”) was confirmed by LNG Canada.
Civeo has since, with the consent of Bird, LNG Canada and EPC Contractor, elected to exit its participation in Bird-Civeo JV. Bird, the managing partner of the Bird-Civeo JV, continues to lead the design and construction of the Cedar Valley Lodge and has entered into a joint venture with ATCO Structures LNG Limited Partnership (the “Bird-Atco JV”), which is now a party to the novated Contract.
Design and engineering of the Cedar Valley Lodge along with plans for construction execution are ongoing, with a notice to proceed issued and construction commencing in spring 2019.
This press release contains forward-looking information (as defined in applicable Canadian securities legislation) that involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to materially differ from those expressed or implied by the forward looking information.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information contact:
I.J. Boyd, President & CEO or
W.R. Gingrich, CFO
Bird Construction Inc.
5700 Explorer Drive, Suite 400
Mississauga, ON L4W 0C6
Phone:(905) 602-4122