- Bird Construction (TSX:BDT), a top-returning stock of 2023, has signed five new contracts with a combined value of more than C$530 million
- The win pushes the company past the C$1.5 billion mark for new contracts in 2023
- Bird Construction is an older than 100-year-old construction company offering comprehensive services in all of Canada’s major markets
- Bird Construction stock (TSX:BDT) has added more than 84 per cent year-over-year and over 177 per cent since 2018
Bird Construction (TSX:BDT), a top-returning stock of 2023, has signed five new contracts with a combined value of more than C$530 million.
The contracts include a large manufacturing facility, the Kakabeka Falls Generating Station Life Extension Project, two large energy clients, and a 13-storey modular tower for B.C. Housing’s Permanent Supportive Housing Initiative.
The Kakabeka Falls Generating Station Life Extension Project
Bird’s subsidiary, Stuart Olson Industrial Constructors, will work on the Kakabeka Falls Generating Station Life Extension Project with Ontario Power Generation through a 50/50 joint venture. The project intends to add 90 years of longevity to the station, which is situated on the Kaministiquia River near Thunder Bay.
Bird will be tasked with designing and installing two new hydro generation units, the construction of a new surge building and penstocks, and the rehabilitation of the existing powerhouse.
Awards from existing energy clients
The company will begin work on a new project and a significant change order within an existing project with two long-term clients in Alberta. The work pertains to site infrastructure and other project services, including concrete foundations, instrumentation and controls, telecommunications, fibre optic, mechanical and high and low voltage electrical services.
B.C. Housing’s Permanent Supportive Housing Initiative
Lastly, Bird has secured an additional construction management contract for a 13-storey modular tower for B.C. Housing’s Permanent Supportive Housing Initiative, located on West 8th Avenue in Vancouver.
The project is part of the permanent supportive housing initiative between B.C. Housing, the City of Vancouver, and the Canada Mortgage and Housing Corporation to deliver a minimum of 300 permanent supportive homes on five city-owned sites. The construction design is tailored to its purpose, allowing for replicability and standardization across all residential floors.
The contract follows Bird’s award for Canada’s tallest modular build back in May.
Management commentary
“These awards reflect the success we are achieving in the diversification of our work program across Canada with our significant self-perform capabilities, strong project management, and forward-leaning accelerated construction solutions,” Teri McKibbon, president and chief executive officer of Bird Construction, said in a statement. “Our continued ability to deliver critical projects across a range of sectors has solidified our reputation as a trusted partner. We look forward to further strengthening relationships with our clients, partners and community stakeholders through our innovative and collaborative approach.”
A model year for new contract wins
The five contracts continue Bird’s consistent success in securing new business in 2023. Additional contracts announced year-to-date include:
Bird Construction is an older than 100-year-old construction company offering comprehensive services in all of Canada’s major markets.
Bird Construction stock (TSX:BDT) opened with a gain of 0.69 per cent trading at C$14.64 per share. The stock has added over 84 per cent year-over-year and over 177 per cent since 2018.
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