{"id":613358,"date":"2023-03-02T05:52:05","date_gmt":"2023-03-02T11:52:05","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/02\/aecon-sells-off-ontario-road-building-business\/"},"modified":"2023-03-02T05:52:05","modified_gmt":"2023-03-02T11:52:05","slug":"aecon-sells-off-ontario-road-building-business","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/02\/aecon-sells-off-ontario-road-building-business\/","title":{"rendered":"Aecon sells off Ontario road-building business"},"content":{"rendered":"<div>\n<figure>\n<p><a href=\"http:\/\/www.theconstructionindex.co.uk\/assets\/news\/2011\/08\/1314174307_flag-canada.jpg\" title><img decoding=\"async\" width=\"750\" height=\"500\" alt loading=\"lazy\" data-old-src=\"data:image\/gif;base64,R0lGODdhAQABAPAAAMPDwwAAACwAAAAAAQABAAACAkQBADs=\" src=\"http:\/\/www.theconstructionindex.co.uk\/img-cache\/3e29f94d008c248bec33095766a1a340\/750x500_top_1314174307_flag-canada.jpg\"><\/a>\n<\/p><figcaption><\/figcaption><\/figure>\n<p>The sale includes the Aecon Transportation East (ATE) road-building, <a href=\"https:\/\/www.theconstructionindex.co.uk\/search\/aggregates?utm_source=tci_news&#038;utm_medium=auto_keyword_link\" title=\"Search for suppliers of Aggregates\" target=\"_blank\" rel=\"noopener\">aggregates<\/a> and materials businesses based in Ontario.<\/p>\n<p>ATE provides road-building and infrastructure services throughout Ontario to both public and private sector clients. It has a workforce of around 1,000 people.<\/p>\n<p>Aecon Transportation East contributed around 7% of group consolidated revenue in 2022. Selling the business allows Aecon to pay down some of the debt on its revolving credit facility.<\/p>\n<p>Aecon group president and chief executive Jean-Louis Servranckx said: \u201cAecon\u2019s efforts are increasingly focused on helping meet its clients\u2019 sustainable infrastructure needs and harnessing the opportunities that are expected to come from the transition to a net zero economy through decarbonisation.<\/p>\n<p>\u201cThis transaction is consistent with Aecon&#8217;s goal of targeting prudent balance sheet leverage and liquidity and also reduces the overall capital intensity of Aecon\u2019s business.\u201d<\/p>\n<p>Aecon said that on closing the deal, it will enter into a strategic cooperation agreement with GIP for \u201ccertain major projects and pursuits in Ontario that leverage both Aecon\u2019s heavy civil construction services and GIP\u2019s roadbuilding capabilities.\u201d<\/p>\n<p>The sale is expected to complete during the first half of this year.<\/p>\n<p><b>Got a story?<\/b> Email <a href=\"http:\/\/www.theconstructionindex.co.uk\/mailto:ne**@*********************co.uk\" data-original-string=\"HTz7lwWA3qHiWxKHfsJu2g==7f4FE04ie1zBNOTCgotMlas\/VRkvhFa6b8SI0mSMpzRPIGw8AgtnINfd6aqMHZCYFhx\/+3pHExdhVrwDDMu9a00Dg==\" title=\"This contact has been encoded by Anti-Spam by CleanTalk. Click to decode. To finish the decoding make sure that JavaScript is enabled in your browser.?subject=News%20Story\"><span \n                data-original-string='1+5M6SiFWgAyuiSwDdhG6A==7f4fJ6EyQmWjOQPaNN+fWvE5\/5inau9Irm1mwhjgo3DZYo='\n                class='apbct-email-encoder'\n                title='This contact has been encoded by Anti-Spam by CleanTalk. Click to decode. To finish the decoding make sure that JavaScript is enabled in your browser.'>ne<span class=\"apbct-blur\">**<\/span>@<span class=\"apbct-blur\">*********************<\/span>co.uk<\/span><\/a><\/p>\n<\/div>\n<p><a href=\"https:\/\/www.theconstructionindex.co.uk\/news\/view\/aecon-sells-off-ontario-road-building-business\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n The Construction Index<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sale includes the Aecon Transportation East (ATE) road-building, aggregates and materials businesses based in Ontario. ATE provides road-building and infrastructure services throughout Ontario to both public and private sector clients. It has a workforce of around 1,000 people. Aecon Transportation East contributed around 7% of group consolidated revenue in 2022. Selling the business allows<\/p>\n","protected":false},"author":1,"featured_media":613359,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[119801,3063],"tags":[],"class_list":{"0":"post-613358","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aecon","8":"category-sells"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/613358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=613358"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/613358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/613359"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=613358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=613358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=613358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}