Quanta Services Selected for Hanna Region Transmission Development Project

Jul 31, 2012, 06:07 ET from Quanta Services, Inc.

HOUSTON, July 31, 2012 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) today announced that ATCO Electric has selected Valard Construction, a Quanta Services company, to install transmission infrastructure for ATCO Electric's Hanna Region Transmission Development project. Under the terms of the contract, Valard will install approximately 240 kilometers of 240-kilovolt transmission infrastructure in the Hanna region of southeast Alberta, Canada. Valard crews have been mobilized to begin construction on the project, which is expected to be completed in 2013.

"Valard has provided electrical infrastructure services to ATCO Electric for a number of years and we look forward to another safe and successful project," said Jim O'Neil, president and chief executive officer of Quanta Services.

About Valard Construction and Quanta Services Based in Edmonton, Alberta, Valard Construction is a full-service engineering, procurement and construction (EPC) contractor, skilled in providing turnkey solutions for power system requirements. Valard was founded in 1978 and is comprised of a workforce of 1,200 trades-related people, 600 pieces of dedicated utility equipment and an experienced management team. Quanta Services is a leading specialized contracting services company, delivering infrastructure solutions for the electric power, natural gas and pipeline and telecommunication industries. The company's comprehensive services include designing, installing, repairing and maintaining network infrastructure throughout North America. Additionally, Quanta licenses point-to-point fiber optic telecommunications infrastructure in select markets and offers related design, procurement, construction and maintenance services. With operations throughout North America and in select international markets, Quanta has the manpower, resources and expertise to complete projects that are local, regional, national or international in scope. 

Forward-Looking Statements This press release (and any oral statements regarding the subject matter of this press release) contains forward-looking statements intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include, but are not limited to: any expected value of the contract with ATCO Electric, the scope, services, terms and results of the project awarded under the contract, the anticipated completion date for the project, and the impact of the project on the electric power grid and infrastructure reliability, as well as statements reflecting expectations, intentions, assumptions or beliefs about future events and other statements that do not relate strictly to historical or current facts.  Although Quanta's management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.  These statements can be affected by inaccurate assumptions and by a variety of risks and uncertainties that are difficult to predict or beyond our control, including, among others, successful performance and completion of the contract and the project awarded thereunder; failure to realize the anticipated value of the contract or the project; the potential for incurrence of damages or other claims for schedule delays or performance shortfalls, including as a result of warranty claims following completion of the project; the failure of Quanta's subcontractors to perform their obligations, including warranty obligations, under their subcontracts; adverse changes in economic conditions and trends in relevant markets; future growth in the electric utility and renewable energy industries; delays, reductions in scope or cancellations of the contract or the project awarded thereunder, including as a result of weather, regulatory or environmental issues; dependence on fixed-price contracts and the potential to incur losses with respect to the projects; the inability of customers to pay for services; cancellation and termination provisions present in the contract; and other factors affecting the business of the Quanta generally, including risks detailed in Quanta's Annual Report on Form 10-K for the year ended December 31, 2011, Quanta's Quarterly Reports on Form 10-Q for the applicable quarters in 2012 and any other documents of Quanta filed with the Securities and Exchange Commission (SEC).  Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Quanta does not undertake and expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Quanta further expressly disclaims any written or oral statements made regarding the subject matter of this press release by any third party.  For a discussion of these risks, uncertainties and assumptions, investors are urged to refer to Quanta's documents filed with the SEC that are available through the company's web site at www.quantaservices.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov.




Kip Rupp, CFA 

Reba Reid



SOURCE Quanta Services, Inc.