Enterprise Group, Inc. Provides Corporate Update
September 17 2013 - 7:00AM
Marketwired
Enterprise Group, Inc. ("Enterprise", or "Company") (TSX:E) is
pleased to announce that on September 25, 2013, the Company will be
presenting at the upcoming LNG Investment Conference produced by
Keith Schaefer's Oil & Gas Investment Bulletin. This is a
highly anticipated event by several analysts and investors who are
interested in the massive LNG build-out taking place in Western
Canada. The Vancouver conference features a basket of high quality
Canadian listed construction service companies that are extremely
well positioned to service the midstream producers who are
budgeting billions of dollars to build the supporting pipelines and
infrastructure. Further information on the conference can be viewed
at www.ogiblngconference.com.
Enterprise will also be presenting at NAI Interactive's Global
Chinese Financial Forum in Toronto on September 21, 2013. Ten
participating companies will be presenting to hundreds of Chinese
investors who follow the resource, oil & gas and energy
services sectors.
Operational Updates
CALGARY TUNNELLING & HORIZONTAL AUGERING LTD. (CTHA)
Since the acquisition was completed in mid-June of this year
CTHA has backlogged and completed approximately $8.4 million in
project construction. Included in this backlog is over $2.5 million
in pipeline related projects.
T.C. BACKHOE & DIRECTIONAL DRILLING (TC)
Enterprise is pleased to update that the current backlog at the
TC division includes nearly $4 million in underground subdivision
projects which equates to over 600 new residential lots. The power
line crews at TC have backlogged a further $3.5 million in
projects, much of this relating to new construction of power
distribution to many of the upgrading facilities being built in the
greater Edmonton region.
ARTIC THERM INTERNATIONAL LTD. (ATI)
Further to Company reports on ATI's progressive capital
expenditure plan for 2013, ATI has taken delivery of 3 of the 6
newly built 3 million BTU truck units. The remaining are scheduled
to be delivered prior to the peak heating/construction season.
These additional units will bring the high output fleet to a total
of ten units. The design of these units have been optimized for
extreme efficiency and heat delivery. Units of this caliber charge
out at $15,000 per day in peak season with a four man operating
crew. Management is pleased with the sales and marketing efforts
and expects a high utilization rate through this next peak
heating/construction season.
E ONE LIMITED (E One)
Management is extremely pleased with this summers' increase in
utilization of its heavy equipment rental fleet. E One is currently
operating at approximately 85% utilization a nearly 30% increase in
the same period in 2012.
In a further IR related update, management is working with
HOTSTOQX.com to provide an increased presence to the U.S. retail
investment community.
About Enterprise Group, Inc.
Enterprise Group Inc. ("Enterprise" or "Company") (TSX:E) is a
consolidator of construction services companies operating in the
energy, utility and transportation infrastructure industries. The
Company's focus is primarily construction services and specialized
equipment rental. The Company's strategy is to acquire
complementary service companies in Western Canada, consolidating
capital, management and human resources to support continued
growth. Enterprise became a Western Canadian leader in flameless
heat technology in September 2012 with its acquisition of Artic
Therm International Ltd. and has now become a technological leader
in underground infrastructure construction by the closing of
Calgary Tunnelling & Horizontal Augering Ltd. June 14,
2013.
Forward-Looking Information
Certain statements contained in this news release constitute
forward-looking information. These statements relate to future
events or the Company's future performance. The use of any of the
words "could", "expect", "believe", "will", "projected",
"estimated" and similar expressions and statements relating to
matters that are not historical facts are intended to identify
forward-looking information and are based on the Company's current
belief or assumptions as to the outcome and timing of such future
events. Actual future results may differ materially. The Company's
Annual Information Form and other documents filed with securities
regulatory authorities (accessible through the SEDAR website
www.sedar.com) describe the risks, material assumptions and other
factors that could influence actual results and which are
incorporated herein by reference. The Company disclaims any
intention or obligation to publicly update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as may be expressly
required by applicable securities laws.
Contacts: First Canadian Capital Corp. Daniel Boase
416-742-5600DBoase@firstcanadiancapital.com Enterprise Group, Inc.
Leonard D. Jaroszuk President & CEO 780-418-4400 Enterprise
Group, Inc. Desmond O'Kell Vice President
780-418-4400contact@EnterpriseGRP.ca www.EnterpriseGRP.ca
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