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Bird Joint Venture Awarded The Alliance Development Agreement To Deliver The East Harbour Transit Hub In Toronto

GlobeNewswire - Mon Jan 8, 6:50AM CST

MISSISSAUGA, Ontario, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Bird Construction Inc. (TSX: BDT) announced today that its 50/50 joint venture with AtkinsRéalis, has entered into an Alliance Development Agreement to work collaboratively with Metrolinx to deliver the East Harbour Transit Hub. Bird is partnered with AtkinsRéalis under the Rail Connect (RC) Partners joint venture.

The East Harbour Transit Hub, part of Toronto’s SmartTrack Stations Program, is one of the first major projects in Canada to be procured using an ‘alliance’ model. The alliance model has been used internationally to plan and deliver large, complex infrastructure programs, driving innovation and collaboration between parties. The alliance model is better equipped to manage risk with greater transparency and cooperative decision-making.

The Alliance Development Agreement marks a collaborative phase where the focus is on optimizing the design solution, developing detailed resource, cost, and schedule estimates, preparing a Project Proposal, finalizing the Project Alliance Agreement, and performing Early Works.

"This significant award advances our strategic priority to grow our infrastructure portfolio while maintaining our disciplined pursuit of projects with appropriate risk profiles,” said Teri McKibbon, President and CEO of Bird. “We are proud to play a key role in this project where we can leverage Bird’s extensive collaborative contracting experience along with our comprehensive self-perform capabilities including the specialized services of Dagmar, acquired in 2021. We look forward to working collaboratively with Metrolinx and the other alliance team members and stakeholders to promote innovation, continuous improvement, and productivity while delivering this critical infrastructure project required to meet the needs of future generations.”

This press release contains forward-looking information (as defined in applicable Canadian securities legislation) that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to materially differ from those expressed or implied by the forward-looking information.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

For further information, contact:
T.L. McKibbon, President & CEO or
W.R. Gingrich, CFO
Bird Construction Inc.
5700 Explorer Drive, Suite 400
Mississauga, ON L4W 0C6
Phone: (905) 602-4122

About Bird Construction
Bird (TSX: BDT) is a leading Canadian construction company operating from coast-to-coast and servicing all of Canada's major markets. Bird provides a comprehensive range of construction services from new construction for industrial, infrastructure and building markets, to industrial maintenance, repair and operations services, heavy civil construction, and mine support services, as well as vertical infrastructure, including electrical, mechanical, and specialty trades. For over 100 years, Bird has been a people-focused company with an unwavering commitment to safety and a high level of service that provides long-term value for all stakeholders.

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