ATCO Ltd.
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ATCO Ltd.
ATCO Structures

ATCO Structures

July 03, 2008 10:18 ET

ATCO Structures Partners in 20,000-Person Abu Dhabi Construction Village

Largest-ever Project Supports $27 Billion Saadiyat Island Resort Development

CALGARY, ALBERTA--(Marketwire - July 3, 2008) - ATCO Structures and partner Al Habtoor Engineering have been chosen to design and manufacture a 20,000 person workforce housing complex to support the world-famous $27 billion Saadiyat Island tourism and cultural district development project in the capital of the United Arab Emirates.

Australian subsidiary ATCO Structures Pty Ltd. and Al Habtoor Engineering (which is part of the Al Habtoor Leighton Group) will together open a modular manufacturing facility and sales office in Abu Dhabi, operating locally as Al Habtoor - ATCO Modular Building Solutions Contracting LLC.

The company's first contract is for a 20,000-person construction village to house approximately one-third of the region's workers hired to build infrastructure projects on the resort island of Saadiyat, where 29 hotels are being built along with three spectacular museums designed by celebrity architects Frank Gehry, Jean Nouvel and Tadao Ando, as well as a sprawling, spaceship like performing arts center designed by Zaha Hadid.

The largest complex in ATCO Structures' history, the complex includes sleeping accommodations, recreational amenities, kitchen, dining and laundry facilities.

ATCO Structures will now have operations based in six major international operating regions around the world, including Canada, Australia, United States, United Kingdom and South America. The new facilities position the company for future phases to supply modular building solutions for the Saadiyat Island construction project and for other opportunities in the Arab world.

Saadiyat Island, about half the size of Bermuda, is located only about 500 metres offshore from the City of Abu Dhabi and will be connected by two ten-lane causeways. Construction is expected to last up to 10 years and require anywhere from 50,000 to 80,000 guest laborers.

"We have worked closely with Leighton before in Indonesia on various large-scale workforce camp projects and know we make a strong partnership," said Michael Shaw, Managing Director, Global Enterprises & ATCO Ltd. Corporate Development, ATCO Group. "Together we are well positioned to meet the growing infrastructure needs of Saadiyat Island and the region while continuing to build on our strong worldwide reputation."

ATCO Structures Inc., part of the ATCO Group, has manufactured, sold and leased workforce housing and modular buildings since 1947 in more than 100 countries around the world. This news release is also available at the ATCO Structures website at: www.atcostructures.com.

ATCO Group is an Alberta-based worldwide organization of companies with assets of approximately $8.2 billion and more than 7,800 people, actively engaged in Power Generation, Utilities (natural gas and electricity transmission and distribution) and Global Enterprises (industrial manufacturing, technology, logistics and energy services). Further information on ATCO can be found at www.atco.com.

Forward-Looking Information:

Certain statements contained in this news release may constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "expect", "may", "will", "intend", "should", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes that the expectations reflected in the forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

The Corporation's actual results could differ materially from those anticipated in these forward-looking statements as a result of regulatory decisions, competitive factors in the industries in which the Corporation operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Corporation.

The forward-looking statements contained in this news release represent the Corporation's expectations as of the date hereof, and are subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

Contact Information

  • Michael Shaw, Managing Director, Global Enterprises &
    ATCO Ltd. Corporate Development, ATCO Group
    (403) 292-7591
    Website: www.atco.com
    or
    Al Habtoor ATCO
    Joe Cosgrove
    General Manager
    +050 708 0334