|
contents | business | |||||||||
| Aecon acquires GCCL Contracting Limited Canadian construction and infrastructure firm Aecon announced that it has acquired GCCL Contracting Ltd, an asphalt, paving and construction company located in Orangeville, Ontario. GCCL, a wholly-owned subsidiary of the Greenwood group of companies, has traditionally focused on hot-mix paving. Opportunities exist to expand into other areas of the roadbuilding business such as sanitary sewer installations and water-main work. In recent years, GCCL has generated revenues of approximately $10 million. The acquisition provides augmented opportunities through partnerships for other Aecon business units such as Aecon Construction and Materials Ltd (ACML), Aecon Utilities, and Aecon Materials Engineering (AME). Under the share purchase deal, Aecon will pay approximately $4.4 million, of which approximately $2 million will be paid over a four-year term. write your comments about the article :: © 2010 Construction News :: home page |