Contract to Provide Equivalent of 275 Full Time Jobs for a Year
VANCOUVER, Sept. 27, 2013 /CNW/ - Premier Christy Clark will be in
Penticton today to launch an approximately $100 million project for
BC-based Britco, one of the largest modular construction companies in
Canada, and a division of WesternOne Inc. ("WesternOne") (Toronto Stock
Exchange: WEQ, WEQ.DB, WEQ.DB.B and WEQ.DB.C).
The project involves Britco designing and building accommodations for a
large workforce housing project in Northern Alberta for Devon Energy
Corporation, a major oil and natural gas exploration and production
company. The workforce accommodations will be comprised of over 1,500
rooms that will be built in Britco's modular construction facilities in
Agassiz and Penticton, British Columbia.
Premier Clark will be meeting about 250 Britco employees, suppliers, and
sub-contractors at Britco's Penticton facility, "Britco's success shows
that our plan to attract investment in B.C.'s energy and resource
sector will pay off in jobs and opportunities for citizens across the
province."
Premier Clark's focus on job creation is also based on diversifying the
BC economy and attracting new investment, "As we reach out to new
markets and customers in Asia, we are providing opportunities for
companies right here in British Columbia like Britco to invest in their
businesses, to expand their operations and to create new jobs."
This will be the second project undertaken by Britco for Devon. Earlier
this year, Britco completed work on an 880 room workforce accommodation
facility in the same region. Work on the new project will start in
October of this year and the project is scheduled to be completed and
fully commissioned in December of 2015.
"These types of housing projects are an important element in our
business success", stated Chris Seasons, President, Devon Canada
Corporation. "In order to draw the best and brightest to work on our
successful oil sands projects, we need superior accommodations. Britco
delivered a quality product safely and on time. They are an excellent
example of oil sands benefits flowing directly to the people and
province of British Columbia."
Large projects such as those for Devon have not only driven job growth
at Britco across British Columbia but also have helped establish Britco
as a leading provider of workforce accommodations in Canada. Britco's
workforce in BC has more than doubled in recent years and the company
now has over 500 employees in Western Canada.
"We are proud to be working with Devon on this important project and
look forward to designing and building one of the most advanced
workforce accommodation complexes anywhere in Canada," said Rob King,
CEO of WesternOne.
The primary driver for Britco's growth in recent years has been the
demand for workforce housing in the energy, mining and infrastructure
sectors in Western Canada and the United States.
Last year, Britco signed a contract to design and build a 2,000 room
workforce accommodation complex for Manitoba Hydro. The project
involves providing workforce accommodations required for the
construction of the Keeyask Generating Station Project in Northern
Manitoba.
Stated King, "Work on projects in the resource and energy sector in BC's
north and in Alberta has allowed us to not only create jobs here in BC
but also has provided us with the opportunity to expand internationally
to Australia and to the United States."
Combined, Britco has approximately 1,000 employees working at its
operations in Canada, Australia and the United States.
Forward-looking Information
Certain statements in this press release may constitute
"forward-looking" information that involves known and unknown risks,
uncertainties and other factors, and it may cause actual results,
performance or achievements or industry results, to be materially
different from any future results, performance or achievements or
industry results expressed or implied by such forward-looking
information. Forward-looking information is identified by the use of
terms and phrases such as "anticipate", "believe", "could", "estimate",
"expect", "intend", "may", "plan", "predict", "project", "will",
"would", and similar terms and phrases, including references to
assumptions. Such information includes, without limitation, statements
with respect to: the design and build of a large workforce housing
project in Northern Alberta, the particular facilities to be used by
Britco to manufacture the required modular buildings, and the start and
completion dates of the project. Actual events or results may differ
materially.
Forward-looking information contained in this press release is based on
certain key expectations and assumptions made by WesternOne, including,
without limitation, expectations and assumptions respecting: the
outlook of WesternOne's business and the economy in Western Canada, the
supply and demand for WesternOne's products and services and
management's assessment of future plans and operations. Although the
forward-looking information contained in this press release is based
upon what the WesternOne's management believes to be reasonable
assumptions, WesternOne cannot assure investors that actual results
will be consistent with such information. Forward-looking information
reflects current expectations of management regarding future events and
operating performance as of the date of this press release. Such
information involves significant risks and uncertainties, should not be
read as guarantees of future performance or results, and will not
necessarily be accurate indications of whether or not such results will
be achieved. A number of factors could cause actual results to differ
materially from the results discussed in the forward-looking
information, and a description of these factors can be found under
"Risk Factors" in WesternOne's Annual Information Form dated March 28,
2013 and Management's Discussion and Analysis dated August 14, 2013,
which are available on SEDAR (www.sedar.com).
The forward-looking information contained herein is expressly qualified
in its entirety by this cautionary statement. Forward-looking
information reflects management's current beliefs and is based on
information currently available to WesternOne. The forward-looking
information is made as of the date of this press release and WesternOne
assumes no obligation to update or revise such information to reflect
new events or circumstances, except as may be required by applicable
law.
About WesternOne
WesternOne seeks to acquire and grow businesses in the construction and
infrastructure services sectors in order to generate stable and growing
dividends to its shareholders and to achieve capital. Additional
information relating to WesternOne and other public filings is
available on SEDAR at www.sedar.com or on WesternOne's website at www.weq.ca.
About Britco
With over 1,000 employees in Australia, Canada, and the United States,
Britco is one of the largest modular construction companies in the
industry.
Britco provides temporary and permanent residential and commercial
modular buildings and offers leading design-build capabilities as well
as turn-key construction project management services for a wide range
of customers in the infrastructure, construction, energy and resource
sectors.
Britco is headquartered in Langley, British Columbia. Additional
information about Britco is available at www.britco.com or www.weq.ca.
Trading Symbols
Toronto Stock Exchange: WEQ, WEQ.DB, WEQ.DB.B and WEQ.DB.C
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
SOURCE WesternOne Inc.
