Bird Continues to Grow Industrial Portfolio Nationally
MISSISSAUGA, Ontario, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Bird Construction Inc. (TSX: BDT) is pleased to announce that it has been selected for five projects with a total combined value exceeding $575 million. These projects include civil site works and foundations at two industrial projects in Alberta and Saskatchewan, a multi-year master service agreement (“MSA”) in the petrochemical sector, an expansion in scope of an existing multi-year task order in the nuclear sector in Ontario, and a long-term care project in BC.
- Bird has been awarded a civil and concrete package for works at Dow’s Path2Zero Project. In late 2023, Dow Chemical announced its plans to invest $6.5B USD billion in the world's first net-zero petrochemical project, which involves a brownfield expansion and retrofitting of its existing manufacturing site in Fort Saskatchewan, Alberta.
- The 2NationsBird joint venture has been awarded foundations and underground utilities work at SaskPower’s Aspen Power Station Project, a 370-megawatt power station that will support renewable power generation and provide reliable power in Saskatchewan.
- Bird’s maintenance, repair, and operations (“MRO”) team has been awarded a 5-year MSA with an existing long-term client. The award aligns with Bird’s strategic goal of further sector diversification through growing its portfolio within the petrochemical industry, as well as unlocking expanded services with existing clients in core geographies. The award highlights our MRO business’ full service, self-perform general contracting capabilities.
- Bird’s team was awarded a second year of a previously announced multi-year task order under the Port Hope Area Initiative (“PHAI”) Master Construction Contract by Canadian Nuclear Laboratories after completion of the first full year, showcasing Bird’s ability to lead and execute environmental remediation within the nuclear sector.
- Bird’s BC Buildings team was selected for another long-term care project in British Columbia, supporting growing demand for long term care services across the province.
"We continue to grow our diverse portfolio with projects spanning multiple sectors, with healthy contributions from multi-year recurring revenue awards. Our proven track record in successfully delivering early works on major industrial projects strategically positions us to pursue full project life cycle opportunities," stated Teri McKibbon, President and CEO of Bird. "With robust demand in our target sectors, we remain disciplined in our project selection and focused on delivering strong performance through 2024 and beyond, with ongoing value creation for our shareholders.”
This press release contains forward-looking information (as defined in applicable Canadian securities legislation) that involves 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:
T.L. McKibbon, President & CEO or
W.R. Gingrich, CFO
Bird Construction Inc.
5700 Explorer Drive, Suite 400
Mississauga, ON L4W 0C6
Phone: (905) 602-4122
About Bird Construction
Bird (TSX: BDT) is a leading Canadian construction and maintenance company operating from coast-to-coast-to-coast. Servicing all of Canada's major markets through a collaborative, safety-first approach, Bird provides a comprehensive range of construction services, self-perform capabilities, and innovative solutions to the industrial, buildings, and infrastructure markets. For over 100 years, Bird has been a people-focused company with an unwavering commitment to safety and a high level of service that provides long-term value for all stakeholders.
