ATCO Frontec and Pan Arctic
Inuit Logistics Corporation partnership wins contract valued at
$122 Million
CALGARY,
AB, Oct. 27, 2022 /CNW/ - ATCO Ltd. (TSX: ACO.X) (TSX: ACO.Y)
The Government of Canada has
awarded Nasittuq Corporation (Nasittuq), a partnership between
ATCO Frontec (part of the
ATCO Group) and the Pan Arctic
Inuit Logistics Corporation (PAIL), an eight-and-a-half year,
$122M contract for site support and
maintenance services at Canadian Forces Station (CFS) Alert,
Nunavut. The contract includes
options to extend the term for two additional four-year
periods.
Nasittuq has held the contract since 2012, and the new contract
has been awarded through a competitive and transparent bid process.
The award comes just months after Nasittuq won the North Warning
System operations and maintenance contract.
CFS Alert, considered the northernmost inhabited settlement in
the world, is a military station located on the northeastern tip of
Ellesmere Island, Nunavut,
approximately 817 kilometers from the North Pole. Nasittuq is
responsible for the maintenance and repair of the approximately 90
buildings, roads and grounds (including a 5500 ft. gravel runway),
quarry operation, power plants, generators, water and sewage
treatment, fire alarm systems, and fuel storage tanks. They will
also provide accommodation and food services for the residents.
"We're happy Canada has put its
trust in Nasittuq once again to deliver services at CFS Alert,"
said Jim Landon, President,
ATCO Frontec. "We're proud to be a
part of Nasittuq and we believe this kind of equity partnership
with Inuit-owned business represents the future of development in
the North."
"This is an exciting win for us, and we look forward to
continuing to do what we do best," said Jody Langelier, President, Nasittuq. "Our
deep-rooted Northern experience allows us to safely deliver real
life support services in some of the harshest Arctic
conditions."
As the incumbent, Nasittuq will continue to provide support
services on site, and work under the new contract will commence in
June 2023.
With the federal government announcing their commitment to spend
$4.9 billion over six years to
modernize NORAD's capabilities, ATCO and its partners are well positioned to
support defence of the North.
Nasittuq Corporation provides technical, logistics, and
operations and maintenance services to its Canadian and U.S.
Government customers in Canada's
arctic. Nasittuq is an Inuit registered firm with three
shareholders: Nunasi Corporation holds 51% voting interests; Pan
Arctic Inuit Logistics (PAIL) holds 51% equity interest; and
ATCO Frontec Ltd (a division of
ATCO Ltd.) holds 49% voting and
equity interests. For more information visit www.nasittuq.com.
With approximately 6,400 employees and assets of $23 billion, ATCO is a diversified global corporation with
investments in the essential services of Structures & Logistics
(workforce and residential housing, innovative modular facilities,
construction, site support services, workforce lodging services,
facility operations and maintenance, defence operations services,
and disaster and emergency management services); Utilities
(electricity and natural gas transmission and distribution, and
international electricity operations); Energy Infrastructure
(electricity generation, energy storage and industrial water
solutions); Retail Energy (electricity and natural gas retail
sales); Transportation (ports and transportation logistics); and
Commercial Real Estate. More information can be found at
www.ATCO.com.
Investor & Analyst Inquiries:
Colin Jackson
Senior Vice President
Finance, Treasury, Risk & Sustainability
Colin.Jackson@atco.com
403 808 2636
Media Inquiries:
Kurt
Kadatz
Director, Corporate Communications
Kurt.Kadatz@atco.com
587 228 4571
Forward-Looking Information:
Certain
statements contained in this news release may constitute
forward-looking information. Forward-looking information is often,
but not always, identified by the use of words such as
"anticipate", "plan", "estimate", "expect", "may", "will",
"intend", "should", and similar expressions.
Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking information.
The Company's actual results could differ materially from
those anticipated in this forward-looking information as a result
of regulatory decisions, competitive factors in the industries in
which the Company operates, prevailing economic conditions
(including as may be affected by the COVID-19 pandemic), and other
factors, many of which are beyond the control of the
Company.
The Company believes that the expectations reflected in the
forward-looking information are reasonable, but no assurance can be
given that these expectations will prove to be correct and such
forward-looking information should not be unduly relied
upon.
Any forward-looking information contained in this news
release represents the Company's expectations as of the date
hereof, and is subject to change after such date. The Company
disclaims any intention or obligation to update or revise any
forward-looking information whether as a result of new information,
future events or otherwise, except as required by applicable
securities legislation. In particular, forward-looking information
in this news release includes references to the expected value and
term of the support services contract.
SOURCE ATCO Ltd.