ATCO Ltd.
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ATCO Ltd.

October 09, 2014 16:30 ET

ATCO Wins Bid to Build Pipeline in Mexico

Pipeline will transport natural gas to fuel power generating station near Tula

MEXICO CITY, MEXICO--(Marketwired - Oct. 9, 2014) - ATCO Mexico announced today that it has been awarded a contract by the Comisión Federal de Electricidad (CFE) to design, build, operate and maintain a natural gas pipeline near the town of Tula in the state of Hidalgo, Mexico. Valued at approximately USD$50 million, this deal marks ATCO's first energy infrastructure project under the newly reformed energy sector in the country.

"We are honoured to have been selected by the CFE to build and operate this important piece of energy infrastructure in this great country," said Nancy Southern, Chair, President & Chief Executive Officer, ATCO Group. "ATCO has made a long-term commitment to Mexico and we consider it a great privilege to be a part of the community. We look forward to forming lasting partnerships and demonstrating that we are a trusted builder and operator of key infrastructure, just as we have done in Canada and Australia."

ATCO's growth in Mexico is modeled after its existing Canadian and Australian operations consisting of diverse yet complementary businesses of power generation, natural gas and electricity transmission and distribution, and workforce accommodation and site services.

ATCO's long history of growth around the world has been built upon its commitment to investing in the communities where the company operates. With the opening of ATCO's office in Mexico City and the Tula pipeline project, ATCO has taken important first steps to establishing itself as a valued member of the community and will make a significant contribution to the region's economy.

ATCO will be responsible for the design, construction, operation and maintenance of the pipeline that will transport natural gas approximately 16 kms to fuel the existing Francisco Pérez Rios power plant, near Tula. Expected to be in-service in 2015, ATCO will utilize a local engineering, procurement and construction firm to support the project.

With more than 9,000 employees and assets of approximately $17 billion, ATCO is a diversified global corporation delivering service excellence and innovative business solutions through leading companies engaged in Structures & Logistics (manufacturing, logistics and noise abatement), Utilities (pipelines, natural gas and electricity transmission and distribution) and Energy (power generation and sales, industrial water infrastructure, natural gas gathering, processing, storage and liquids extraction). More information 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

  • In Mexico:
    James Delano
    Director General
    ATCO Mexico
    55-5947-8367

    In Canada:
    Cory Huhn
    Senior Advisor, External Communications
    ATCO Group
    403-998-3569