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Press release from CNW Group

Aecon awarded significant fabrication and module assembly packages

Thursday, October 20, 2011

Aecon awarded significant fabrication and module assembly packages06:30 EDT Thursday, October 20, 2011- - two contracts total $132 million - -TORONTO, Oct. 20, 2011 /CNW/ - Aecon Group Inc. (TSX:ARE) announced today that its Industrial West Division has been awarded two contracts totaling $132 million for fabrication and module assembly work for a large SAGD (steam assisted gravity drainage) oilsands project near Fort McMurray, Alberta.The first contract involves the fabrication of pipe spools and assembly of 90 wellpad modules for the project.  Under the second contract, Aecon will undertake all the off-module fabrication for the project's plant facility.Fabrication work will begin in November at Aecon's fabrication facilities in Sherwood Park, Alberta, with completion of the work scheduled for the fall of 2013.  Over the course of the project, fabrication work will be carried out at both of Aecon's Sherwood Park facilities as well as some or all of its facilities in Cambridge, Ontario, Brantford, Ontario, Dartmouth, Nova Scotia, and Pictou, Nova Scotia."Aecon's substantial fabrication capacity, including our ability to efficiently utilize a number of facilities across the country, is a significant advantage when undertaking projects like this," said Teri McKibbon, Aecon's Chief Operating Officer.  "This is a major project in the oilsands, and we are pleased to undertake this work."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