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Press release from CNW Group

Aecon awarded two significant contracts in the resources sector

Tuesday, October 04, 2011

Aecon awarded two significant contracts in the resources sector19:00 EDT Tuesday, October 04, 2011- - Contracts expected to generate a total of over $250 million in revenues - -TORONTO, Oct. 4, 2011 /CNW/ - Aecon Group Inc. (TSX: ARE) announced today that its Lockerbie and Hole Eastern division has been awarded two significant contracts at mine sites in British Columbia and New Brunswick.  The contracts, with the Thompson Creek Metals Company and the Potash Corporation of Saskatchewan Inc., are expected to generate over $250 million in revenues for Aecon.Under the first contract, Aecon will install the interior structural steel, equipment, piping, electrical and control systems at Thompson Creek's Endako Molybdenum Mine site located just west of Fraser Lake in British Columbia.  The cost reimbursable contract is expected to be completed this winter.The second contract was awarded by the Potash Corporation of Saskatchewan Inc. (PCS or PotashCorp) for work at their Picadilly site in Penobsquis, New Brunswick.  At the Picadilly site, Aecon will install mechanical equipment, process and utility piping systems as well as all electrical and control systems.  The PCS contract includes both cost reimbursable and fixed price components, and is scheduled for completion at the end of 2012."These two contract awards build on the extensive experience Aecon has in this sector," said Teri McKibbon, Aecon's Chief Operating Officer.  "Aecon is a leader in the installation of mechanical and electrical systems at mine sites, and we are proud to build on that experience with this work for the PotashCorp and Thompson Creek Metals."Aecon Group Inc. is among Canada's largest and most diverse construction and infrastructure development companies. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and on a selected basis internationally. Aecon is pleased to be recognized as one of the Best Employers in Canada.The information in this press release includes certain forward-looking statements. These "forward-looking" statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties.  In addition to general global events outside Aecon's control, there are factors which could cause actual results, performance or achievements to vary from those expressed or inferred herein including risks associated with an investment in the common shares of Aecon and the risks related to Aecon's business, including Large Project Risk and Contractual Factors. Risk factors are discussed in greater detail in the section on "Risk Factors" in the Annual Information Form filed on March 30, 2011 and available at www.sedar.com.  Forward-looking statements include information concerning possible or assumed future results of operations or financial position of Aecon, as well as statements preceded by, followed by, or that include the words "believes," "expects," "anticipates," "estimates," "projects," "intends," "should" or similar expressions.  Important factors, in addition to those discussed in this document, could affect the future results of Aecon and could cause those results to differ materially from those expressed in any forward-looking statements. For further information: Mitch Patten Senior Vice President, Corporate Affairs, Aecon Group Inc. 416-436-2803 aecon@aecon.com www.aecon.com