CONCORD, ON, Jan. 23, 2014 /CNW/ - Armtec Infrastructure Inc. ("Armtec") (TSX: ARF and ARF.DB) today announced it has commenced production on a contract with Parkway Infrastructure Constructors Group (PIC) to design, engineer, supply and install over six kilometers of sound absorptive noise barriers for the Rt. Hon. Herb Gray Parkway (formerly the Windsor-Essex Parkway) in southern Ontario.
The $1.4 billion highway development, under construction in the municipalities of Windsor, LaSalle, and Tecumseh, represents a once-in-a-generation undertaking that will improve traffic flow at Canada's premier trade gateway. Armtec's contribution to the project consists of approximately 25,000 square meters of precast Durisol absorptive noise wall panels, with custom architectural treatments to provide a grassland finish on the highway side, and special finish on the residential side to prevent migratory snakes from accessing the Expressway. In addition, two overpass structures will be fitted with transparent noise barriers, due to their light weight and maintenance of scenic views. Field installation of the noise walls commenced in December 2013, with anticipated completion slated for the Fall of 2014.
"We are extremely pleased to have been selected to provide our innovative solutions on this project, unprecedented anywhere in Ontario in terms of its community enhancement and environmental features," said Mark Anderson, Armtec's President and CEO. "This contract reflects Armtec's leadership position - and reputation - in high-profile infrastructure markets across the country."
About Armtec Infrastructure Inc.
Armtec is a 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. Armtec operates through a network of offices and production facilities across the country. Armtec operates in two business units: Drainage Solutions manufactures and markets corrugated high-density polyethylene pipe, corrugated steel pipe and other drainage related products including small bridge structures; and Precast Concrete Solutions manufactures and markets highly engineered precast systems such as parking garages, bridges, sport venues and building envelopes as well as standard precast products such as steps, paving stones and utility vaults. Armtec's common shares and convertible debentures trade on the Toronto Stock Exchange under the symbols "ARF" and "ARF.DB," respectively.
This news release contains "forward-looking" statements (including those set out under the section entitled "Outlook" including statements relating to the overall outlook for Armtec's markets; the level of revenue expected for the fourth quarter and full year; the anticipated demand and performance related to standard and engineered precast products; the relative year over year demand for Drainage products; the effects of competitive pressure and commodity prices in Prairie provinces; the overall anticipated financial performance for the Company; the expected level and timing of costs related to Armtec's annual incentive plan; the approximate level of the Company's capital spend program; the effect of market activity on Precast products and the effect of the Charbonneau Commission on Eastern Canada; and that Armtec's business units will strive to leverage best practices and improve execution capabilities in 2014) 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.
SOURCE Armtec Infrastructure-Corp
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Armtec Commences Production on Sound Absorptive Noise Barriers for Herb Gray Parkway
Jan 23, 2014, 09:33 EST