Seacliff Construction Corp.

Seacliff Construction Corp.

October 20, 2009 08:00 ET

Seacliff's Construction Contracting Division Wins Three Major Contracts and Several Industry Awards in BC

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 20, 2009) - Seacliff Construction Corp. ("Seacliff" or "the Corporation") (TSX:SDC), one of the largest and most diversified construction companies in Western Canada, today reported that Dominion Construction (Dominion), its construction contracting division, has been awarded three major contracts in British Columbia, valued at approximately $77.9 million in total. Dominion has also earned several industry awards recently, including "General Contractor of the Year" at the Vancouver Regional Construction Association's (VRCA) annual awards dinner on October 1.

The first new contract, valued at approximately $48.6 million, is for the construction of a four-storey, 170,000 square foot office building at the Broadway Tech Centre in Vancouver. Construction is expected to begin in early November of this year and to be completed in January 2012.

The second contract, valued at approximately $20 million, is for the construction of the Kwanlin Dün Cultural Centre, a 50,000 square foot building which will be built immediately adjacent to the Yukon River in downtown Whitehorse. Site preparations are already underway, with construction on the high-profile project expected to begin in April 2010 and completion scheduled for fall 2011.

Dominion has also been awarded the $9.3 million construction management contract for the Phase 1 Energy House project at the Northern Lights College in Dawson Creek. The Energy House, which is expected to be completed in March 2011, will incorporate several leading-edge alternate energy technologies, including photovoltaic panels, a wind turbine and training tower, and a geo-exchange field and biomass boiler. It is Dominion's first LEED Platinum project.

"We are extremely pleased with Dominion's ongoing success in winning major contracts such as these," said Bill Crarer, Seacliff's CEO. "Dominion has earned an excellent reputation for delivering high-quality work, on time and on budget, and we believe this is contributing to our ability to consistently win new projects. We are also very proud of Dominion's strong showing at the VRCA's annual awards dinner – particularly in a year where there were a record number of entrants."

In addition to being named "General Contractor of the Year" at the event, Dominion won the "Gold Award – General Contractor Project over $50 million" for its work on the Richmond Olympic Oval and the "Silver Award – General Contractor Project $20 - $50 million" for the renovation and seismic upgrade to Vancouver Technical School.

On October 9, the Richmond Olympic Oval also won a prestigious international structural design award from the Institution of Structural Engineers, besting many landmark buildings including Beijing's Bird's Nest stadium. The award was presented to one of Dominion's subcontractors on the project, design firm Fast and Epp.

Related Links

Broadway Tech Centre

Dominion - Kwanlin Dün Joint Venture

Kwanlin Dün Cultural Centre

Energy House at Northern Lights College

Vancouver Regional Construction Association 2009 Awards

Richmond Oval Wins Structural Design Award

About Seacliff Construction Corp.

Seacliff is one of the largest and most diversified construction companies in Western Canada. It provides general contracting construction services and electrical contracting services to a wide array of clients in both the public and private sectors. The majority of Seacliff's business is derived from institutional, commercial and light industrial construction projects. It operates primarily in Western Canada, with 15 locations in British Columbia, Alberta, Saskatchewan and Manitoba, as well as one location in Northwestern Ontario. With headquarters in Vancouver, B.C., Seacliff's business is conducted through two business units: Dominion Construction, a general contractor; and Canem Systems, an electrical contractor.

As a general contractor, Dominion offers diversified general contracting, construction management and design-build services in Western Canada primarily to institutional, commercial and light industrial clients. Dominion's services include preconstruction planning and comprehensive project management services. These services include the planning and scheduling of the manpower, equipment, materials and subcontractors required for a project. Dominion subcontracts out the vast majority of trade work on its projects; however, some construction services, including site work, concrete forming and placement, are self-performed.

Canem provides a broad range of services including designing, building, maintaining and servicing electrical and data communication systems for institutional, commercial, light industrial and multi-family residential customers. Canem's electrical contracting services include: designing electrical distribution systems within a building or complex; procuring and installing electrical equipment and materials; on-call service for electrical maintenance and troubleshooting; preventative and scheduled maintenance for critical component installations; budgeting and pre-construction services; and management of regional and national contracts for multi-site installations. Substantially all of Canem's work is self-performed.


Forward-Looking Statements

This press release contains statements concerning Seacliff's services, use of funds, business plan, and objectives. Seacliff's Total Work on Hand, other expectations, plans, goals, objectives, assumptions, information or statements about future events or conditions may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. Assumptions have been made regarding, among other things, the successful implementation of Seacliff's business plan, the availability to Seacliff of qualified personnel, the continuation and completion of the projects forming Seacliff's Total Work on Hand, and general economic, business and market conditions. Although Seacliff believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Seacliff can give no assurance that such expectations will prove to be correct. The forward-looking statements are based on the Corporation's current expectations, estimates and projections, and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, among others, Seacliff's ability to be retained for existing and new project work by existing and new clients, Seacliff's ability to retain and hire the qualified personnel required, the delay or cancellation of projects forming Seacliff's Total Work on Hand, general economic, business and market conditions, and other risks as are detailed from time to time in the continuous disclosure filings of Seacliff. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. These forward-looking statements are made as of the date of this press release, and Seacliff assumes no obligation to update or revise them to reflect new events or circumstances, except as required by applicable laws.

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