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February 7, 2006 |
| Structal Signs Two Contracts Valued at CAN$39 M For Complex Projects in the U.S. |
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(Point of Rocks, MD) – Structal, Heavy Steel Construction, a business unit of Canam Group Inc. (TSX: CAM.SV.A) located in Point of Rocks, MD, announced today that it has received two contracts totaling US$32 million (CAN$38.5 million) for the construction of a family entertainment and recreation complex housing a year-round indoor Alpine “ski resort” in East Rutherford, New Jersey, and of a 25-story multi-residential complex in Cambridge on the outskirts of Boston.
The President of the U.S. division of Structal, Heavy Steel Construction, Charlie Watson, said that Structal’s expertise in the area of major and complex building projects played an important part in landing these two contracts. He is delighted that business has picked up in this sector in recent months both in Canada and the United States.
General contractors Turner Construction Company and Suffolk Construction awarded these contracts to Structal for the fabrication and erection of the structural steel that will go into these buildings covering more than one million square feet.
The US$1.3 billion Xanadu entertainment and recreation complex will feature a 780-foot-long ski slope with a vertical drop of 110 feet, complete with snow and chairlifts, for year-round indoor skiing. The multi-residential complex, on the other hand, will consist of a 25-story building containing residential units as well as office space, shops and a fitness center.
Fabrication of the structural steel components will get under way at Canam Group’s plant in Saint-Gédéon-de-Beauce in the coming weeks, and the work will be completed during the third quarter of 2006. Securing these two projects will allow Structal to maintain up to 100 jobs for a period of about six months.
Structal, Heavy Steel Construction, is the business unit of Canam Group Inc. specialized in the construction of major and complex projects that include engineering support, building design and project management services.
In the last five years, Structal, Heavy Steel Construction, and Canam Group Inc. have been associated with numerous other big construction projects in North America, including the AFC Champion Patriots’ stadium in New England and the NFC Champion Eagles’ stadium in Philadelphia, the Boston Convention & Exhibition Center, the Connecticut Convention Center, the Niagara Falls Casino, the Lester B. Pearson International Airport in Toronto, the Montréal-Trudeau International Airport and a number of aluminum smelters for Alcan and Péchiney, among others.
Canam Group Inc. is an industrial company operating 12 plants specialized in the design and fabrication of construction products and solutions. The company employs close to 3,000 people in Canada, the United States, Mexico, Romania and India.
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| Source: |
| Jasmin Gosselin |
Vice President, Communications
Tel.: (450) 641-4000
E-mail:
www.canamgroup.ws
www.structalstructure.ws
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