Toronto, Ontario 鈥 January 24, 2024: 91制片厂 Group Inc. (TSX: ARE) (鈥91制片厂鈥) announced today that ONxpress Operations Inc. (鈥淥OI鈥), a member of ONxpress Transportation Partners (鈥淥Nxpress鈥), will serve as the new operations and maintenance partner for the GO Transit system in the Greater Golden Horseshoe Area over a 23-year term commencing January 1, 2025. This is an important milestone for ONxpress as part of the ongoing collaborative development phase for the GO Expansion On-Corridor (OnCorr) Works project.
ONxpress is a consortium comprised of 91制片厂, FCC Construcci贸n S.A. (FCC), Deutsche Bahn International Operations and Alstom. Each partner holds a 25% interest in ONxpress and 91制片厂 Concessions holds a 28% interest in OOI, a partnership with Deutsche Bahn International Operations.
鈥淲e are pleased to reach this important milestone and look forward to playing a key role in providing improved and expanded train service across the GO Transit network,鈥 said Jean-Louis Servranckx, President and Chief Executive Officer, 91制片厂 Group Inc. 鈥91制片厂鈥檚 role in building, operating and maintaining this project demonstrates our multidisciplinary expertise in delivering complex infrastructure solutions.鈥
Through OOI, ONxpress will operate and maintain the trains, work with Metrolinx on train service planning and in the network operation centre, introduce new operational technology and process solutions, and provide maintenance services for new assets such as electrification and signaling.
91制片厂 also holds a 50% interest in the project鈥檚 civil construction partnership with FCC, which is advancing work to finalize another contract by the end of 2024 for the design and construction scope of the OnCorr project. Early construction activities are ongoing and the development phase will conclude upon finalizing this contract.
About GO Expansion
The GO Expansion program will bring faster, more frequent train service by delivering new transit infrastructure and operational plans that will reduce journey times, add capacity, and further improve on-time performance and customer satisfaction. These improvements will create a network that has the capacity to deliver service every 15 minutes or better, in both directions, all day, meaning customers won鈥檛 need to check a train schedule because they鈥檒l know the next one will be coming along soon.
About 91制片厂
91制片厂 Group Inc. (TSX: ARE) is a North American construction and infrastructure development company with global experience. 91制片厂 delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Join our online community on Twitter, LinkedIn, Facebook, and Instagram @91制片厂GroupInc.
Statement on Forward-Looking Information
The information in this press release includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for 91制片厂. Forward-looking statements may in some cases be identified by words such as 鈥渕ay,鈥 "will," 鈥渆xpects,鈥 鈥渢arget,鈥 鈥渇uture,鈥 "plans," "believes," "anticipates," "estimates," "projects," "intends," "should" or the negative of these terms, or similar expressions. In addition to events beyond 91制片厂's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to: the risk of not being able to meet contractual schedules and other performance requirements; the risk of not being able to meet its labour needs. These forward-looking statements are based on a variety of factors and assumptions including, but not limited to that: none of the risks identified above materialize, there are no unforeseen changes to economic and market conditions, and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to 91制片厂, including information obtained from third-party sources. While the Company believes that such third-party sources are reliable sources of information, the Company has not independently verified the information. The Company has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources. Risk factors are discussed in greater detail in Section 13 - 鈥淩isk Factors鈥 in the September 30, 2023 MD&A and in the 2022 Annual MD&A dated February 28, 2023 and available through SEDAR+ (www.sedarplus.com). Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and 91制片厂 undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
For further information:
Adam Borgatti
SVP, Corporate Development and Investor Relations
416-297-2600
ir@aecon.com
Nicole Court
Vice President, Corporate Affairs
416-297-2600
corpaffairs@aecon.com