Bird Construction receives $90M in contracts
Bird Construction receives $90M in contracts
2022-04-05 16:45 ET - News Release
Mr. Teri McKibbon reports
BIRD CONSTRUCTION INC. AWARDED TWO FIVE YEAR MSA CONTRACTS AND TWO INDUSTRIAL FACILITIES TURNAROUND CONTRACTS
Bird Construction Inc. has been awarded two five-year master service agreement (MSA) contracts for industrial maintenance services, and two industrial facilities turnaround contracts. The total value of the awarded contracts is an estimated $90-million.
The MSA contracts, both awarded by existing clients, span across the upstream oil and gas and petrochemical sectors. The awards are reflective of the value Bird's experienced teams bring to clients, created by a robust safety record, years of consistent performance on sites and a strong client service approach.
The multiyear contracts contribute positively to Bird's growing recurring revenue stream and positioning for future opportunities that will drive incremental long-term MSA portfolio growth. In addition, the two turnaround contracts, also with existing clients, reflect Bird's strategy to expand service offerings with upstream oil and gas clients.
"Bird, through our wholly owned Stuart Olson subsidiary, is a Tier 1 industrial maintenance, repair and operations service provider to the oil and gas and petrochemical sectors, and I am very pleased that the value our team brings to the market continues to be recognized and rewarded," said Teri McKibbon, president and chief executive officer of Bird. "As a result of the distinctive benefits provided by our bundled service offering, together with our strong consistent performance and geographic diversification, we remain well positioned for the robust pipeline of opportunities in Western Canada, as well as the energy industry nationally. Our reputation as a top service provider in the industry, combined with the consistent multiyear awards, support our drive for profitable growth and long-term shareholder value."