Stuart Olson wins new contracts valued at $250M
Building and maintenance contracts in Ontario and Alberta to boost company's bottom line
CALGARY—Stuart Olson Inc., one of Canada’s largest construction services companies, had been awarded new projects valued at $250 million.
“These new contract awards are substantial wins for both our Industrial Group and Buildings Group,” David LeMay, Stuart Olson’s president and CEO, said.
The company’s Industrial Group renewed a three-year master services agreement to provide maintenance and operations repair work to a longstanding oilsands customer. The MSA is valued at $90 million over the three-year period and provides for the provision of established as well as new services.
Stuart Olson’s Buildings Group in Southern Ontario also secured a $90 million project with the largest post-secondary institution in the province. This design-build project includes the construction of instructional facilities, student spaces and faculty offices, the company said.
In addition, Stuart Olson said its Buildings Group in Alberta has been awarded two contracts with a total value of $70 million, including a $40 million construction management contract for a 180-unit seniors’ care centre and a $30 million design-build project to construct a research and collections resource facility for a large post-secondary institution.
“The three-year MSA demonstrates our focus on ensuring we renew existing MRO contracts, while at the same time continue our efforts to grow this business by adding new services, customers and sites,” LeMay said.
“The post-secondary project awarded to our Buildings Group in Southern Ontario is a significant win for this emerging branch. Our ongoing strategy of growth within this large market focuses on pursuing properly sized projects through our collaborative methods of project delivery and this award demonstrates the success of our approach,” he added.