CALGARY, ALBERTA--(Marketwire - Jan. 10, 2011) - Black Diamond Group Limited ("Black Diamond" or "the Company") (TSX:BDI), a leading provider of modular accommodation and energy services in North America, is pleased to announce it has secured the construction and long-term rental contract for the second phase of a previously announced upscale remote workforce housing project, located in north central British Columbia. The second phase of the project brings the total project value to $15 million and the total number of beds to 440. Phase one is currently under construction and construction on the next phase will begin in February 2011. Full occupancy for phase two is slated for April 2011. The project will provide premier housing for a Canadian mineral development and exploration company located 155 km northwest of Prince George, B.C.
The capital expenditure for both phases of this project falls within the Company's announced $40 million of capex for 2011.
About Black Diamond
Founded in 2003, Alberta-based Black Diamond Group Limited is a leading provider of temporary and permanent modular building and energy services products. Through its wholly-owned subsidiaries, Black Diamond Limited Partnership, Nortex Modular Leasing and Construction Company and through its 50% equity participation in the Black Diamond Dene Limited Partnership and Black Diamond West Moberly Limited Partnership, Black Diamond operates three complementary divisions in thirteen strategic locations across Canada and USA.
Black Diamond Camps and Logistics rents and sells remote workforce housing and provides associated services; BOXX Modular specializes in renting or selling a broad range of modular work space solutions and Black Diamond Energy Services rents and sells a full complement of oilfield equipment and services. Black Diamond provides world-class services to a full spectrum of industries including oil, gas, mining, power, construction, engineering, military, government and education.
Contact Information: Black Diamond Group Limited
Trevor Haynes
President and Chief Executive Officer
(403) 206-4737
(403) 264-9281 (FAX)
or
Black Diamond Group Limited
Michael Burnyeat
Vice President, Finance and Chief Financial Officer
(403) 206-4740
(403) 264-9281 (FAX)
www.blackdiamondlimited.com