October 06, 2021
Bird Announces Participation in Three New IPD Projects
COMPANY: BIRD CONSTRUCTION INC.
LISTING: TORONTO STOCK EXCHANGE
DATE: OCTOBER 6, 2021
SUBJECT: BIRD ANNOUNCES PARTICIPATION IN THREE NEW IPD PROJECTS
Bird Construction Inc. (“Bird”) announced today that it will participate in three Integrated Project Delivery (“IPD”) contracts in Western Canada with a combined value in excess of $150 million, providing construction services from early planning through construction and commissioning.
Bird has been given a limited notice to proceed as the constructor for a substantial food and beverage facility expansion project that will be executed using an IPD contract model. Bird was previously chosen as the First Negotiation Proponent for the project and will continue to work with the client and other parties to form the multi-party agreement while early planning activities are underway.
Bird also announces that it has been selected as the successful proponent for the Okanagan Indian Band (“OKIB”) water system upgrade project. This is the first IPD project in Canada for an Indigenous owner group. This project will provide clean drinking water for the Indigenous community working with local trade contractors and local Indigenous workers.
Additionally, Bird has been selected as the successful IPD General Contractor proponent for the North Okanagan Wastewater Recovery Project (“NOWRP”). The project will replace aging septic systems and provide sewer service to the Township of Spallumcheen’s industrial area, and residents and businesses in Regional District of North Okanagan (“RDNO”) and parts of OKIB.
These projects will be recorded in pending backlog until purchase orders are issued by the clients for the full value.
IPD is a contracting method that promotes parties, usually including the owner, consultants, general contractor and sometimes subcontractors and suppliers, to work together in a collaborative setting. The IPD model aligns incentives for the partners through terms that incentivize the achievement of project goals and provide full transparency regarding project costs. Leading the construction activities for both projects, Bird will provide input into the planning and design processes to support and contribute to their successful planning and delivery.
“We are excited to have the opportunity to partner with these new and important clients that serve and support Canadians in key sectors: food and beverage production; and access to clean water. Bird’s strong reputation for collaboration and process-driven project execution has positioned us as industry leaders in the delivery of IPD projects, which will allow us to contribute to the safe and successful delivery of these important projects,” said Teri McKibbon, President and CEO of Bird. “A key focus of our new 2022-2024 Strategic Plan is to increase the proportion of collaborative contracting projects. Over the past few years, our team has successfully built our IPD expertise and we have executed a number of projects under this contracting method. I am very pleased with the positive results we have seen to date and look forward to building on our success going forward. These projects contribute to our geographically balanced work program and position us to continue to build long-term shareholder value.’”
This press release contains forward-looking information (as defined in applicable Canadian securities legislation) that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to materially differ from those expressed or implied by the forward-looking information.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information contact:
T.L. McKibbon, President & CEO or
W.R. Gingrich, CFO
Bird Construction Inc.
5700 Explorer Drive, Suite 400
Mississauga, ON L4W 0C6
Phone: (905) 602-4122
ABOUT BIRD CONSTRUCTION
Bird (TSX: BDT) is a leading Canadian construction company operating from coast-to-coast and servicing all of Canada’s major markets. Bird provides a comprehensive range of construction services from new construction for industrial, commercial, and institutional markets; to industrial maintenance, repair and operations services, heavy civil construction, and mine support services; as well as vertical infrastructure including, electrical, mechanical, and specialty trades. For over 100 years, Bird has been a people-focused company with an unwavering commitment to safety and a high level of service that provides long-term value for all stakeholders. www.bird.ca