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Press release from CNW Group

The Churchill Corporation Announces Organizational Changes to its Industrial Services Segment

Monday, December 05, 2011

The Churchill Corporation Announces Organizational Changes to its Industrial Services Segment10:45 EST Monday, December 05, 2011CALGARY, Dec. 5, 2011 /CNW/ - The Churchill Corporation (TSX: CUQ)(TSX: CUQ.DB) ("Churchill") announced today an organizational realignment of its Industrial Services segment, to better meet the needs of industrial customers and deliver accelerated growth and business performance. Effective January 1, 2012, The Churchill Services Group ("CSG") under the leadership of its President David LeMay, currently President and COO of Laird Electric Inc., will begin to interface with customers and lead new business origination related to integrated products and services on behalf of Churchill's Industrial Services segment and Stuart Olson Dominion's Industrial building activities. The Industrial Services segment consists of Laird Electric Inc. ("Laird Electric"), Laird Constructors Inc. ("Laird Constructors"), Insulation Holdings Inc. ("IHI"), and Broda Construction Inc. ("Broda"). Churchill Services Group will provide fully integrated industrial services allowing the pursuit of larger projects and contracts.In conjunction with this realignment, Churchill announces the following leadership changes effective January 1, 2012:Perry Pugh, Vice President Operations for Fuller Austin Inc. ("Fuller Austin") in Saskatchewan, Manitoba and northwest Ontario, is appointed COO of Insulation Holdings, a division of CSG, consisting of Fuller Austin and Northern Industrial Insulation Inc.("Northern Industrial");Diego Carducci, Laird Electric's Vice President and General Manager, is appointed COO of Laird Electric, a division of CSG; andTyler Roberge, previously Vice President Laird Constructors, is appointed Executive Vice President, Laird Constructors, a division of CSG.Messieurs Pugh, Carducci and Roberge will report directly to Mr. LeMay.David LeMay and Gord Broda, President of Broda, will both continue reporting to Jim Houck, Churchill's President and CEO.Churchill Services Group will have the ability to provide clients:the civil construction capability of Broda Construction Inc.;the general contracting services of Stuart Olson Dominion Industrial;the insulation, HVAC and cladding services of Fuller Austin and Northern Industrial;the full mechanical and electrical services of Laird Constructors; andthe electrical, instrumentation and powerline services of Laird Electric as part of an integrated product offering."This realignment is in response to the success Churchill has experienced bundling together the electrical contracting services of Laird Electric with the best-in class insulation capabilities of Fuller Austin in Northern Alberta." said Jim Houck. "We believe we can do more of this type of bundling by realigning our organization, modifying and improving our business origination and increasing the breadth of services offered.""David was appointed President and COO of Laird in November 2008 and demonstrated his leadership capability in restructuring the Laird organization to remain profitable during the 2008-2009 recession despite experiencing a 63% reduction in construction revenues and subsequently managing the company as it delivered excellent construction revenues and earnings in 2010," continued Mr. Houck. "During his almost 25 years in the construction industry he has been involved in all aspects of construction from estimating through to project management and has built a high-performing team at Laird Electric."Perry Pugh has held the position of Vice President Operations for Fuller Austin Saskatchewan, Manitoba and northwest Ontario since 1999. Perry has been employed with Fuller Austin since 1983 starting as an estimator in the Edmonton office. In 1989, Perry accepted the challenge of opening Fuller Austin's Regina office and worked as branch manager for 10 years.Diego Carducci, currently a Vice President and General Manager at Laird Electric, is a professional engineer with a degree from Carlton University and an MBA from Boccioni University Graduate School of Management in Milan. Diego's 22 years of experience in the construction industry include progressive roles ranging from project engineer, quality assurance, project management and successive executive level positions.Tyler Roberge, currently Laird Constructors Vice President Operations, has over 24 years of multi-trade construction and project management experience in power generation, steel production, mining and smelting, natural gas, and the pulp and paper industries."I am very excited about these organizational changes, as they demonstrate that Churchill is a progressive, learning organization with the capability to attract, develop and promote internal succession candidates into more challenging positions of responsibility. These changes are expected to accelerate our strategy of offering integrated services from multi-disciplinary trades under the umbrella of one industrial organization. This realignment is in response to client demand to access Churchill's full suite of industrial products and services," continued Mr. Houck.Additionally, Churchill wishes to announce that Ron Martineau, currently President and Chief Operating Officer of IHI, will be retiring after 40 years of service."We want to thank Ron for the many years of leadership of Fuller Austin and Northern Industrial, and his significant contributions as a valued member of the Churchill management team," said Jim Houck. "Ron's career with IHI and its predecessor companies was highlighted by numerous successfully executed industrial insulation and cladding projects, many years of profitability, and a focus on the safety of every worker within the IHI and Churchill organizations. Ron also dedicated himself to building the leadership team within IHI to ensure there would be a seamless succession upon his retirement. Ron's good humour and friendship will be missed by all and we wish Ron all the best in his retirement."About The Churchill CorporationThe Churchill Corporation provides building construction, commercial and industrial electrical contracting, earthmoving and industrial insulation services to an array of public and private sector clients. Churchill operates office locations throughout British Columbia, Alberta, Saskatchewan, Manitoba, northwest Ontario and the Yukon. Churchill common shares and convertible debentures are listed on the Toronto Stock Exchange under the symbols "CUQ" and "CUQ.DB", respectively. www.churchillcorporation.comForward Looking InformationCertain statements in this Press Release may constitute "forward-looking statements". Forward-looking statements include, without limitation, statements regarding the future financial position, business strategy, budgets, litigation, projected costs, capital expenditures, financial results, taxes, plans and objectives of the Corporation. Many of these statements can be identified by looking for words such as "believes," "expects," "may," "will," "intends," "anticipates," "estimates," "continues," or the negative thereof, or other variations thereon. Although management of Churchill believes its expectations regarding future performance of the Corporation, including its revenue and earnings and the future performance of its operating subsidiaries, are based on currently available competitive, financial and economic data, market conditions and operating plans, it can give no assurance its expectations will be achieved. Forward-looking statements relating to future acquisitions are based on management's expectations relating to the Corporation's ability to identify potential acquisition targets and its ability to successfully initiate and consummate the acquisition of such targets. Management's expectations relating to acquisitions are based on management's expectations relating to the Corporation's ability to finance acquisitions and the Corporation's track record in identifying and successfully completing acquisitions. The Corporation cautions that, by their nature, forward-looking statements, involve risks, and uncertainties and that its actual actions, and/or results could differ materially from those expressed or implied in such forward-looking statements, and that the aforementioned risks, uncertainties and actions could affect the extent to which a particular projection materializes. The Corporation assumes no obligation to update the forward-looking statements should circumstances or the Corporation's management's estimates or opinions change, except as may be required by law. For further information: Andrew Apedoe Vice President Investor Relations & Secretary The Churchill Corporation (403) 685-7775 Email: inquiries@churchill-cuq.com Ken Wetherell, CFA Director, Investor Relations The Churchill Corporation (403) 685-7776 Email: inquiries@churchill-cuq.com