First, Riggs Distler & Company, Inc., a U.S.-based subsidiary, has been awarded contracts worth an aggregate value of US $31.4 million or Cdn $41.9 million based on the current exchange rate, all of which will be carried out during the third and fourth quarters of Fiscal 2015. Below is a summary of these agreements:
- Contract with a national Engineering, Procurement and Construction (EPC) company to install a 13MW solar array on existing landfill in New Jersey.
- Contract with a major Mid-Atlantic refinery in Pennsylvania to install piping, equipment and Instrumentation and Electrical (I&E) systems.
- Contract with a major Midwestern utility company in Illinois to rebuild some 20 miles of an existing 138kV line.
- Contract with a major New England utility company to perform energized services and replace over 100 138kV structures in New York and Massachusetts.
Second, Ontario-based subsidiary Thirau Inc. has been awarded a two-year extension of an existing contract by an important distributor of electricity. The agreement represents a total value of Cdn $3.0 million (US $2.3 million) over two years. The contract extension began in July 2015.
"We are pleased by the fact that these contracts are repeat business from existing customers, which confirms the solid relationships and the quality of work of our subsidiaries across a diversified customer base in eastern United States and Canada. Some of these contracts also support our strategy to expand our market share in the growing renewable energy market. Finally, these contracts will have a short-term impact and contribute to results in the second half of the current fiscal year," said Pierre L. Gauthier, President and Chief Executive Officer of NAPEC.
