Horizon North Logistics Inc. Announces Master Teaming Agreement with EllisDon Corporation
CALGARY, May 8, 2018 /PRNewswire/ - Horizon North Logistics Inc. ("Horizon North" or the "Corporation") (TSX: HNL.TO) announced today that the Corporation has entered into a master teaming agreement (the "Teaming Agreement") with EllisDon Corporation ("EllisDon").
The Teaming Agreement applies to specified projects such as hotels, commercial buildings, and multi-family structures to be undertaken by Horizon North's Modular Solutions division. Horizon North and EllisDon will select, pursue, and execute such projects jointly, bringing the respective strengths of each organization to customers.
"The rapid completion of projects that is characteristic of modular construction allows owners to begin to realize a return on their investment sooner," says Rod Graham, President and Chief Executive Officer of Horizon North. "The combination of shorter construction timelines, reduced waste, and lower energy consumption makes modular construction very attractive for a wide variety of projects. With complementary geographies and our shared commitment to world-class safety, Horizon North and EllisDon look forward to continuing to grow the deployment of modular construction in the Canadian market."
"In signing this agreement with Horizon North, we look forward to working with a corporation who shares our safety first culture and our focus on quality," says Geoff Smith, President and Chief Executive Officer of EllisDon. "We look forward to the success of this agreement and its focus on what our customers have come to expect from EllisDon and our partners – quality, innovation, and excellence."
"Horizon North strives to provide an exceptional experience in everything we do for our customers," adds Rod Graham. "This Teaming Agreement adds to our ability to provide that type of world-class service from the initial concept to the time our Modular Solutions customers open their doors for the first time."
About Horizon North
Horizon North is a publicly listed corporation (TSX: HNL.TO) providing a full range of industrial, commercial, and residential products and services. Our Modular Solutions division integrates modern design concepts and technology with state of the art, off-site manufacturing processes; producing high quality building solutions for commercial and residential offerings including offices, hotels, and retail buildings, as well as distinctive single detached dwellings and multi-family residential structures. Our Industrial Services division supplies workforce accommodations, camp management services, access solutions, maintenance and utilities. As a result of our diverse product and service offerings, Horizon North is uniquely positioned to meet the needs of our customers in numerous sectors, anywhere in Canada.
Corporate Information
Additional information related to Horizon North, including the Corporation's annual information form, press releases, financial statements and MD&A are available on SEDAR at www.sedar.com
Forward-looking Statements
This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Horizon North. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "will", "continue", "possible", "forward" and similar expressions. This press release contains forward-looking statements pertaining to, among other things, the following: the selection, pursuit and execution of projects by the Corporation and EllisDon ("Projects"); the characteristics of modular construction and the benefits thereof; modular construction in the Canadian market; business possibilities; success of the agreement between the Corporation and EllisDon; quality, innovation and excellence of EllisDon and its partners; and the abilities of the Corporation.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Horizon North as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies including, without limitation: the anticipated benefits of the teaming agreement, including strategic and operational opportunities and benefits; that Horizon North will continue to, and that EllisDon will, conduct its operations in a manner consistent with Horizon North's past operations; the general continuance of current or, where applicable, assumed industry and market conditions; availability of debt and/or equity sources to fund Horizon North's capital and operating requirements as needed; and certain cost assumptions. The estimates and assumptions of Horizon North used for this press release may prove to be incorrect. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Horizon North and described in the forward-looking statements contained in this press release, including: the inherent uncertainties associated with new projects and business relationships; general economic, market and business conditions; demand for Projects and modular construction generally; that Projects may not be completed in the timelines anticipated, in the manner anticipated or at all; that the delivery of Projects may not have the results currently anticipated by Horizon North; that Horizon North may be unable to resolve mechanical or operational issues in the timelines anticipated, in the manner anticipated or at all; increased costs and expenses; reliance on industry partners, including EllisDon; and certain other risks detailed from time to time in Horizon North's public disclosure documents including, without limitation, those risks identified in this news release, and in Horizon North's annual information form, copies of which are available on Horizon North's SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on the forward-looking statements.
Although Horizon North believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. Horizon North's actual results may differ materially from those expressed or implied in forward-looking statements. Statements including forward-looking statements are made as of the date they are given and, except as required by applicable securities laws, Horizon North disclaims any intention or obligation to publically update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Horizon North Logistics Inc.
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