Aecon Group Inc.
TSX : ARE

Aecon Group Inc.

October 01, 2008 06:30 ET

IST Awarded Two Contracts Totaling $8 Million

TORONTO, ONTARIO--(Marketwire - Oct. 1, 2008) -

Attention Business Editors:

Aecon Group Inc. (TSX:ARE) today announced that its wholly-owned subsidiary, Innovative Steam Technologies (IST), has been awarded two contracts totaling $8 million to supply its Once-Through Steam Generator (OTSG) units to clients in Turkey.

The first contract calls for the design and supply of an OTSG unit for the Ataer industrial zone in Izmir, Turkey, a holiday town on the Agean coast. The project is scheduled for a September 2009 delivery.

Under the terms of the second contract, IST will supply an OTSG unit to Ugur Enerji in Cerkezkoy, Turkey. The OTSG unit will operate in a cogeneration mode, producing steam energy for the textile industry in Turkey. This is the second OTSG module IST has provided for the Cerkezkoy industrial area in Turkey. The project is scheduled for a July 2009 delivery.

These new contracts represent the ninth and tenth OTSG units supplied by IST to clients in Turkey.

"Turkey has become an important market for us as we continue to expand our services internationally," said Bob Dautovich, President of IST. "We're very pleased to have been awarded these new contracts, and we look forward to future opportunities to provide services to other clients in the region."

Innovative Steam Technologies is the world leader in the design and fabrication of once-through-steam-generators and is a wholly owned division of Aecon Group Inc.

Aecon Group Inc. is Canada's largest publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and internationally. Aecon is pleased to be recognized as one of the 50 Best Employers in Canada as published by Report on Business Magazine.

The information in this news release includes certain forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties which are discussed in greater detail in the section entitled "Risk Factors and Uncertainties" in Management's Discussion and Analysis of operating results and Financial Condition for the year ended December 31, 2007 filed on SEDAR at www.sedar.com. Although Aecon believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct.

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