COMPANY: BIRD CONSTRUCTION INC.
LISTING: TORONTO STOCK EXCHANGE
DATE: April 5, 2021
SUBJECT: BIRD CONSTRUCTION INC. AWARDED TWO FIVE YEAR MSA CONTRACTS AND TWO INDUSTRIAL FACILITIES TURNAROUND CONTRACTS.
Bird Construction Inc. ("Bird") is pleased to announce that it has been awarded two five-year master service agreement ("MSA") contracts for industrial maintenance services, and two industrial facilities turnaround contracts. The total value of the awarded contracts is an estimated $90M.
The MSA contracts, both awarded by existing clients, span across the upstream oil and gas and petrochemical sectors. The awards are reflective of the value Bird's experienced teams bring to clients, created by a robust safety record, years of consistent performance on sites, and a strong client service approach.
The multi-year contracts contribute positively to Bird's growing recurring revenue stream and positioning for future opportunities that will drive incremental long-term MSA portfolio growth. In addition, the two turnaround contracts, also with existing clients, reflect Bird's strategy to expand service offerings with upstream oil and gas clients.
"Bird, through our wholly-owned Stuart Olson subsidiary, is a tier one industrial maintenance, repair and operations service provider to the oil and gas and petrochemical sectors, and I am very pleased that the value our team brings to the market continues to be recognized and rewarded," said Mr. Teri McKibbon, President and CEO of Bird. "As a result of the distinctive benefits provided by our bundled service offering together with our strong consistent performance and geographic diversification, we remain well-positioned for the robust pipeline of opportunities in Western Canada, as well as the energy industry nationally. Our reputation as a top service provider in the industry, combined with the consistent multi-year awards, support our drive for profitable growth and 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, institutional, and civil infrastructure 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