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News Release

IST awarded two contracts totalling $46 million

Mar 4, 2011
91Ƭ Group Inc. announced today that its wholly owned subsidiary Innovative Steam Technologies (IST), has been awarded two international contracts totalling $46 million to supply its Once Through Steam Generators (OTSG), and its Enhanced Oil Recovery (EOR) technology.

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Balance of Power - The Waneta Power Project

Mar 1, 2011
When the Waneta Power Project is completed in 2015, British Columbia will have an additional 350 kilowatts of clean reliable hydroelectric power a year.

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The Ship Hector

Mar 1, 2011
The Hector, a replica of a three-masted sailing ship that plied the seas between Scotland and Canada, has a new temporary home at 91Ƭ Fabco’s facility in Pictou.

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Nova Scotia Power’s New Headquarters - Delivering A New Energy to Halifax’s Waterfront

Mar 1, 2011
What could be more appropriate as the headquarters of a power company.

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The Spy Hill Peaking Station - East Meets West

Mar 1, 2011
A short distance east of the village, and dominating the surrounding area, stands the hill after which the village of Spy Hill was named. And not far away, another landmark is taking shape – a natural gas fired electrical generating plant currently under construction by 91Ƭ Industrial.

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91Ƭ announces successful finalization of Quito Airport project restructuring

Feb 9, 2011
91Ƭ Group Inc. announced today that the previously disclosed restructuring of the Quito International Airport project has been finalized, and project funding has resumed.

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91Ƭ announces loss on oilsands project

Feb 4, 2011
91Ƭ Group Inc. announced today that change order negotiations on Suncor’s Firebag III Central Plant Facilities (CPF) project will result in significant losses being recorded on the project.

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Scott Balfour to leave 91Ƭ as President and Director

Jan 20, 2011
91Ƭ Group Inc. today announced that Scott Balfour will be stepping down as 91Ƭ’s President and as a Director, effective January 31, to pursue other opportunities. John M. Beck, 91Ƭ’s Chairman and CEO will assume Mr. Balfour’s responsibilities.

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91Ƭ finalizes sale of Cross Israel Highway concession

Jan 4, 2011
91Ƭ Group Inc. announced today that it has completed the previously disclosed sale of its 25% interest in the Cross Israel Highway concessionaire, Derech Eretz Highways (1997) Ltd. (DEC).

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91Ƭ announces closing of new $300 million credit facility

Dec 14, 2010
91Ƭ Group Inc. (“91Ƭ”) announced today that it has signed a new three and a half-year $300 million credit facility that significantly increases 91Ƭ’s total credit availability and financial flexibility going forward, commensurate with the growth 91Ƭ has seen in recent years.

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91Ƭ’s Lockerbie & Hole Mechanical Unit awarded $25 million contract to expand Fort McMurray water treatment plant

Dec 6, 2010
91Ƭ Group Inc. announced today that its Lockerbie & Hole Mechanical Unit has been awarded a $25 million contract from Bird Construction Company to complete upgrades on the existing water treatment plant in Fort McMurray, Alberta.

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91Ƭ awarded $16 million MTO contract for Hwy 11 upgrade in Northeastern Ontario

Dec 2, 2010
91Ƭ Group Inc. announced today that its Infrastructure division has been awarded a $16.2 million contract by the Ontario Ministry of Transportation (MTO) to upgrade Highway 11, north of New Liskeard, Ontario.

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91Ƭ sells its investment in Churchill Corporation

Nov 22, 2010
91Ƭ Group Inc. announced today that it has sold all of the common shares it acquired earlier this year in Churchill Corporation (“Churchill”), resulting in net proceeds, after costs, of $60.8 million and a pre-tax gain of approximately $2 million.

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91Ƭ awarded $279 million contract to extend TTC subway

Nov 19, 2010
91Ƭ Group Inc. announced today that a group led by 91Ƭ has been awarded a $279 million contract by the Toronto Transit Commission (TTC) to complete the first leg of the Toronto-York Spadina Subway Extension.

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On Track - 91Ƭ Fabco’s Marine Railway

Nov 10, 2010
91Ƭ Fabco marked the opening of its Pictou marine railway with a ribbon cutting ceremony.

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91Ƭ awarded contract as part of Civil Construction Team for design build of the Waneta Dam power plant expansion

Nov 8, 2010
91Ƭ Group Inc. (“91Ƭ”) announced today that a joint venture of 91Ƭ and SNC-Lavalin Constructors (Pacific) Inc. has been awarded a contract by SNC-Lavalin for the civil works design and construction portion of the Waneta Expansion Project.

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91Ƭ reports third quarter results

Nov 2, 2010
91Ƭ Group Inc. today reported its financial results for the third quarter of 2010.

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IST awarded four contracts totalling $40 million

Nov 1, 2010
91Ƭ Group Inc. announced today that its wholly-owned subsidiary Innovative Steam Technologies (IST), has been awarded four contracts totalling $40 million to supply its Once-Through Steam Generators (OTSG), its Enhanced Oil Recovery (EOR) technology, and silencing exhaust systems internationally.

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91Ƭ named one of Canada’s Best Employers for fourth year

Oct 28, 2010
91Ƭ Group Inc. announced today that it has been named one of the Best Employers in Canada for 2011 in an annual study managed by Hewitt Associates, and published in Maclean’s magazine.

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91Ƭ announces completion of previously disclosed public offering of convertible debentures

Oct 8, 2010
91Ƭ Group Inc. today announced that it has completed the previously announced issuance of convertible unsecured subordinated debentures on a bought deal basis to a syndicate...

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91Ƭ restructures its Buildings Division

Sep 27, 2010
91Ƭ Group Inc. today announced the addition of two experienced construction executives to its Greater Toronto Area (GTA) Buildings business, the realignment of its management reporting structure and the adjustment of its market focus.

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91Ƭ announces $80 million public offering of convertible debentures

Sep 20, 2010
91Ƭ Group Inc. today announced that it has entered into an agreement with a syndicate of underwriters co-led by GMP Securities L.P. and TD Securities Inc., and including Raymond James Ltd., CIBC World Markets Inc., Macquarie Capital Markets Canada Ltd., BMO Capital Markets, Canaccord Genuity Corp., National Bank Financial Inc., Paradigm Capital Inc., and Scotia Capital Inc. pursuant to which the underwriters will purchase $80 million principal amount of convertible unsecured subordinated debentures at a price of $1,000 per debenture.

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91Ƭ awarded $33 million MTO contract to expand Highway 11

Sep 2, 2010
91Ƭ Group Inc. announced today that its Infrastructure division has been awarded a $32.9 million contract by the Ontario Ministry of Transportation (MTO) to expand Highway 11, near North Bay, Ontario.

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91Ƭ announces closing of Cow Harbour asset purchase and launch of new 91Ƭ Mining business

Aug 27, 2010
91Ƭ Group Inc. (“91Ƭ”) today announced that it has completed the previously disclosed asset purchase of Fort McMurray based Cow Harbour Construction Ltd. (“Cow Harbour”), and that it will be retaining virtually all of Cow Harbour’s 300 employees in a new division to be called 91Ƭ Mining.