Armtec Secures over $30 Million of Rail Infrastructure Design and Manufacturing Projects in the Greater Toronto Area
GUELPH, ONTARIO, December 20, 2011 - Armtec Infrastructure Inc. ("Armtec") (TSX: ARF and ARF.DB) today announced it has secured a number of rail infrastructure projects, valued at over $30 million, within the Greater Toronto Area. These projects were anticipated as part of the previously announced $50 million in new contracts that are expected to be booked during the fourth quarter. The awarded projects include the design and manufacture of infrastructure products for the West Toronto Diamond rail-to-rail grade separation and two parking garages supporting the GO Transit network. A division of Metrolinx, GO transit is the regional public transit service for the Greater Toronto and Hamilton area for approximately 57 million passengers a year. Metrolinx is an agency of the Government of Ontario and was created to improve the coordination of transportation in the Greater Toronto and Hamilton areas.
For the West Toronto Diamond project, Armtec has been subcontracted to supply Flexwall® architectural panels and bridge girders. When completed, there will be 10,200 square metres of Flexwall insulated precast wall panels and 100 precast bridge girders. The Flexwall panels will serve as an aesthetic treatment to partially line the rail corridor. The project is scheduled to get underway in 2012.
In addition, Armtec is starting work to design and manufacture two parking structures totalling 80,000 square metres for GO Transit's Oakville and Ajax stations. Armtec will design and supply all the components, including double tees, beams, spandrels, columns, shear walls, column walls and exterior architectural wall panels. The Oakville garage is set for completion during the summer of 2012 and Ajax is estimated to be finished by the end of the same year. Both projects are scheduled to commence production immediately, and once completed, the two transit stations will supply a combined total of 2,776 new parking spaces for GO Transit customers.
"We are very pleased to have been selected for these important rail infrastructure contracts within the Greater Toronto Area. These projects fit extremely well into the core competencies of our Engineered Solutions business," said Mark Anderson, President and Chief Executive Officer. "Also, we are excited by the opportunity to capitalize on our strengths and expertise and showcase the innovative design and capabilities of our products and services."
ABOUT ARMTEC INFRASTRUCTURE INC.
Armtec is a leading manufacturer and marketer of a comprehensive range of infrastructure products and engineered construction solutions for customers in a diverse cross-section of industries that are located in every region of Canada, as well as in selected markets globally. These markets include Canada's national and regional public infrastructure markets and private sector markets in agricultural drainage, commercial building, residential construction and natural resources. Operating through its network of regional offices and production facilities across the country, Armtec's broad range of engineered solutions include products for drainage, bridge applications, soil retention, rehabilitation and water management systems including corrugated high-density polyethylene, corrugated steel and concrete pipe; an array of architectural and structural precast and pre-stressed concrete products from steps, paving stones, slabs and wall panels to highly engineered structural components designed and installed for projects such as bridges, sports venues and parking garages; and a full suite of noise barriers, acoustic enclosure and wall systems along with associated retaining wall and traffic barrier systems.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking" statements within the meaning of applicable securities legislation which involve known and unknown risks, uncertainties and other factors which may cause the actual results, events, performance or achievements of Armtec or industry results, to be materially different from any future results, events, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements typically contain such words or phrases as "may", "outlook", "objective", "intend", "estimate", "anticipate", "should", "could", "would", "will", "expect", "believe", "plan" and other similar terminology suggesting future outcomes or events. Forward-looking statements reflect current expectations regarding future results, events, performance and achievements and are based on information currently available to Armtec's management, anticipated operating and financial results of Armtec, and current and anticipated market conditions.
Forward-looking statements involve numerous assumptions and should not be read as guarantees of future results, events, performance or achievements. Such statements will not necessarily be accurate indications of whether or not such future results, events, performance or achievements will be achieved. You should not unduly rely on forward-looking statements as a number of factors, many of which are beyond the control of Armtec, could cause actual results, events, performance or achievements to differ materially from the results, events, performance or achievements discussed in the forward-looking statements, including, but not limited to the factors discussed in Armtec's materials filed with the Canadian securities regulatory authorities from time to time. Although the forward-looking statements contained in this news release are based upon what management of Armtec believes are reasonable assumptions, Armtec cannot assure investors that actual results, events, performance or achievements will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. These forward-looking statements are made as of the date of this news release and, except as required by applicable law, Armtec assumes no obligation to update or revise them to reflect new events or circumstances.
For more information, please contact:
Mark D. Anderson
President & Chief Executive Officer
Tel: (519) 822-0210
Fax: (519) 822-8894
James R. Newell
Chief Financial Officer
Tel: (519) 822-0210
Fax: (519) 822-8894
Carrie Boutcher
Vice President, Investor Relations & Treasurer
Tel: (519) 822-0210
Fax: (519) 822-8894