GREY:NPCUF - Post by User
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fasteddy0043on Jan 15, 2015 9:33am
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NAPEC Inc. is awarded a contract valued at close to $36.0 million CW NAPEC Inc. is awarded a contract valued at close to $36.0 million DRUMMONDVILLE, QC, Jan. 15, 2015 /CNW Telbec/ - NAPEC Inc. ("NAPEC" or the "Corporation") (TSX: NPC) today announced that its U.S.-based subsidiary Riggs Distler & Company, Inc. ("RDC") has been awarded a blanket contract with a total value of US $30.0 million (Cdn $35.8 million). Under the terms of the agreement, RDC will provide construction and maintenance services on the aerial electricity distribution network of a major utility service provider located in the U.S. Mid-Atlantic region. The contract is for a three-year term, reaching out to the end of 2017, including two optional one-year extensions. "This most recent contract confirms RDC's solid reputation as a leading supplier of high-quality services to utility service providers across the eastern United States. In the past month, RDC has obtained four multi-year blanket contracts representing an aggregate value of US $90.0 million (more than Cdn $105.0 million), which speaks highly about the wide-ranging coverage of its strategic markets", said Pierre L. Gauthier, President and Chief Executive Officer of NAPEC. FORWARD-LOOKING STATEMENTS This document may contain forward-looking statements