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Stock impact report

North American Construction Group Takes a Major Revenue Diversification Step With the Acquisition of Ownership Interest in Nuna Logistics

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, Sept. 20, 2018 (GLOBE NEWSWIRE) -- North American Construction Group Ltd. (“NACG” or “the Company”) (TSX:NOA/NYSE:NOA) today announced that it has entered into a definitive agreement to acquire a 49% ownership interest in Nuna Logistics Limited and related companies (collectively, “Nuna”), a civil construction and contract mining company based in Edmonton, Alberta, for $42.5 million in cash (the “Purchase Price”) from a group of private selling shareholders (the “Transaction”).  The majority 51% ownership interest in Nuna is held by the Kitikmeot Corporation, a wholly owned business arm of the Kitikmeot Inuit Association. “This Transaction represents a compelling opportunity for us to continue to execute on our strategy of customer and revenue diversification, while also reducing the overall capital intensity of our business and extending our reach into what we consider to be a very attractive market,” said Martin Ferron, Chairman and CEO of NACG.  “Nuna’s revenue Show less Read more
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