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Stock impact report

North American Construction Group Announces 5-Year Term Contract in the Oil Sands

North American Construction Group Ltd. Common Shares (no par) (NOA) 
Last north american construction group ltd. common shares (no par) earnings: 2/19 04:05 pm Check Earnings Report
Company Research Source: GlobeNewswire
ACHESON, Alberta, Dec. 10, 2018 (GLOBE NEWSWIRE) -- North American Construction Group Ltd. (“NACG” or “the Company”) (TSX:NOA.TO/NYSE:NOA) today announced a long-term extension to a key Multiple Use Agreement with a major earthworks customer.  The three-year extension takes the existing expiration date of December 2020 to December 2023. As part of this additional term, the Company has secured a five-year contract through 2023 for earthworks services at the customer’s base mine. The value of this backlog is expected to be approximately $750 million. Martin Ferron, Chairman and CEO, stated: “Following on from the two term contract awards in June which have resulted in current backlog over $300 million, we are very pleased that a second significant customer has placed long-term faith in us.  The award from our customer is based on demonstrated and tangible results of operational excellence at their mine as we execute earthwork services. This step change in contractual backlog provides Show less Read more
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