NAPEC Inc.
TSX : NPC

NAPEC Inc.

January 29, 2015 08:30 ET

NAPEC Inc. is Awarded an Important Contract From Hydro-Quebec Valued at Approximately $61 Million

Largest contract in the history of Thirau Ltee

DRUMMONDVILLE, QUEBEC--(Marketwired - Jan. 29, 2015) - NAPEC Inc. ("NAPEC" or the "Corporation") (TSX:NPC) today announced that its subsidiary Thirau Ltée ("Thirau") has been awarded an important contract valued at approximately $61 million by Hydro-Québec as part of the large-scale Romaine hydroelectric complex on Quebec's North Shore. This contract, the fourth awarded to Thirau in connexion with the Romaine project, is also the most important ever received since it was founded in 1952.

Under the terms of the agreement, Thirau will proceed with the construction of the Western section of the 735 kV electricity transmission line linking the Montagnais substation to the Romaine 4 generating station. This 120-kilometre section extends from the Montagnais substation to pylon 271. Work is expected to begin shortly and will be spread out until December 2016.

"This important contract award highlights our longstanding, solid business relationship with Hydro-Québec. We are delighted to further contribute to the development of the vast Romaine project and to demonstrate our expertise in carrying out large-scale, complex work", said Pierre L. Gauthier, President and Chief Executive Officer of NAPEC.

FORWARD-LOOKING STATEMENTS

This document may contain forward-looking statements that reflect management's current expectations regarding future events. Forward-looking statements are based on a number of factors and include risks and uncertainties. Actual results may differ from forecast results. Management assumes no obligation beyond what is required under the law to update or revise forward-looking statements pursuant to new information or future events.

OVERVIEW OF THE CORPORATION

NAPEC is a corporation operating in the energy sector. The Corporation is a leading service provider to the public utility and heavy industrial markets mainly in Quebec, Ontario, and the eastern United States. NAPEC and its subsidiaries build and maintain electrical transmission and distribution grids, as well as networks for gas utilities. In addition, the Corporation installs gas-powered and electric-powered heavy equipment for utilities, industrial gas power plants, and petrochemical facilities in North America.

Further information regarding NAPEC is available in the SEDAR database (www.sedar.com) and on the Corporation's website at www.napec.ca.

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