Press release from Marketwire
ATCO Expands in Australia
New company focused on energy, power generation and infrastructure growth opportunities
Tuesday, February 22, 2011
CALGARY, ALBERTA--(Marketwire - Feb. 22, 2011) - ATCO Group today announced the creation of a new company - ATCO Australia. The company will provide a full range of energy and infrastructure services, capitalizing on the strength of the Australian economy. Based in Perth, ATCO Australia will be led by Managing Director and Chief Operating Officer, Steven J. Landry.
"Steady growth in the country's energy and mining industries make Australia the perfect fit to expand our successfully diversified business model," said Nancy Southern, President & Chief Executive Officer, ATCO Group. "Mr. Landry will build upon ATCO's current Australian capabilities and pursue new greenfield opportunities that complement ATCO's core competencies."
ATCO's presence in Australia dates back to 1961 with the establishment of its modular structures business. Today, that business continues to thrive under ATCO Structures & Logistics. ATCO also has three innovative power generation plants in the country, including the recently opened Karratha power plant in northwestern Australia, one of the most energy efficient power plants in the region.
Along with power generation, ATCO Australia will focus on building, acquiring and operating new energy and infrastructure assets, drawing upon ATCO's existing expertise in transportation and distribution of natural gas and electricity; and, natural gas gathering, processing, storage and liquids extraction.
Mr. Landry joins ATCO Australia following a 27-year career in the global automotive industry in which he was most recently a partner in LaSorda Group LLC. He was also Executive Vice President and an Officer of Chrysler LLC, and President and CEO of Chrysler Canada.
ATCO Group, with more than 7,500 employees and assets of approximately $10 billion, delivers service excellence and innovative business solutions worldwide with leading companies engaged in Utilities (pipelines, natural gas and electricity transmission and distribution), Energy (power generation, natural gas gathering, processing, storage and liquids extraction), Structures & Logistics (manufacturing, logistics and noise abatement) and Technologies (business systems solutions). More information can be found at www.atco.com.
Certain statements contained in this news release may constitute forward-looking statements. Forward-looking statements are often, but not always, identifiedby the use of words such as "anticipate", "plan", "expect", "may", "will", "intend", "should", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes that the expectations reflectedin the forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.
The Corporation's actual results could differ materially from those anticipated in these forward-looking statements as a result of regulatory decisions, competitive factors in the industries in which the Corporation operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Corporation.
The forward-looking statements contained in this news release represent the Corporation's expectations as of the date hereof, and are subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
FOR FURTHER INFORMATION PLEASE CONTACT:
N.C. Southern ATCO Group President and Chief Executive Officer (403) 292-7563 www.atco.com