Company type | Public |
---|---|
TSX: ARE | |
Industry | Construction, Infrastructure Development, |
Founded | 1877 | , in Hamilton, Ontario
Headquarters | , Canada |
Key people | Jean-Louis Servranckx (president and CEO) John Beck (executive chairman) David Smales (CFO) Ernest Chan (general counsel) |
Products | Asphalt |
Number of employees | 12,000+ |
Divisions | Aecon Construction Aecon Concessions |
Website | Aecon Group |
Aecon Group Inc. is a construction company in Canada that produces construction materials including asphalt and aggregate materials, [1] and pre-construction and pre-fabrication materials developed in eight company-owned fabrication facilities across Canada. [2]
Aecon has been involved in the building of some of Canada's landmarks, including the CN Tower, St. Lawrence Seaway, Ontario Highway 407, Vancouver Skytrain, and the Montreal-Trudeau International Airport. [3]
Aecon's history began in 1867, when Scottish immigrant Adam Clark started a plumbing and gas fitting business in Hamilton, Ontario. Aecon's predecessor companies include the Foundation Company of Canada, Jackson Lewis, Lockerbie and Hole, Banister Pipelines, Nicholls-Radtke, Pitts Engineering Construction, and Armbro Construction. [4]
As a group, Aecon's origins go back to 1957 to Prefac Concrete of Montreal, a company started by John M. Beck and his parents.
In 2010, Aecon acquired over 500 physical pieces of mining equipment and assets previously owned by Cow Harbour Construction, a large mining and land reclamation contractor located in Alberta's oil sands. [5]
In October 2017, Aecon and CCCC International Holding Limited (CCCCI), the investment arm of the state-owned China Communications Construction Company, announced that they entered into a definitive agreement under which CCCCI would acquire all of the issued and outstanding common shares of Aecon for $20.37 per share in cash, representing an enterprise value of $1.51 billion.
In May 2018, the federal government of Canada blocked the sale, citing national security concerns. [6] [7]
In November 2018, Aecon announced the closing of a definitive asset purchase agreement to sell substantially all of the assets related to its Contract Mining business to North American Construction Group for $199.1 million in cash. [8]
In 2013, Aecon reorganized its operating structure into three core segments. [9]
Aecon Infrastructure is responsible for the design and construction of large transportation projects, including airport terminals, highways, hydroelectric dams, subway tunnels and utility corridors. The Infrastructure segment represented 41% of 2012 Revenue. [10]
Aecon Industrial covers a range of services to numerous projects, from new and existing mines to hydroelectric facilities, natural gas power plants, oil and gas facilities, cogeneration plants, and nuclear plants. [11]
Aecon Concessions specializes in the development of domestic and international Public-Private Partnership (P3) projects as well as other infrastructure development projects requiring private finance. [12] The Concessions segment represented 1% of 2012 Revenue. [13]
In 2017, Aecon Construction and Materials Ltd was found in violation of the Ontario Water Resources Act relating to a construction contract in northern Ontario in 2013. [14] [15] Prior to this, Aecon was fined $225,000 (CAD) in 2011 after being judged liable for a 2008 natural gas explosion that killed a homeowner in an Ontario town. [16] In 2005, they faced a $300,000 (CAD) fine for an earlier gas explosion at a job site in Windsor, Ontario that killed two employees. [17] The company has been accused of misrepresenting the severity of workplace injuries, although in this they were not alone among large Canadian employers, several of which were discovered engaging in similar practices. [18]
A pipeline is a system of pipes for long-distance transportation of a liquid or gas, typically to a market area for consumption. The latest data from 2014 gives a total of slightly less than 2,175,000 miles (3,500,000 km) of pipeline in 120 countries around the world. The United States had 65%, Russia had 8%, and Canada had 3%, thus 76% of all pipeline were in these three countries. The main attribute to pollution from pipelines is caused by corrosion and leakage.
The Athabasca oil sands, also known as the Athabasca tar sands, are large deposits of bitumen, a heavy and viscous form of petroleum, in northeastern Alberta, Canada. These reserves are one of the largest sources of unconventional oil in the world, making Canada a significant player in the global energy market.
Downer Group is an integrated services company active in Australia and New Zealand.
A gas explosion is the ignition of a mixture of air and flammable gas, typically from a gas leak. In household accidents, the principal explosive gases are those used for heating or cooking purposes such as natural gas, methane, propane, butane. In industrial explosions many other gases, like hydrogen, as well as evaporated (gaseous) gasoline or ethanol play an important role. Industrial gas explosions can be prevented with the use of intrinsic safety barriers to prevent ignition, or use of alternative energy.
Cintra, S.A. is one of the largest private developers of transport infrastructure in the world. Its assets are fundamentally toll roads and car parks, in which it has a total investment of €16billion. Formerly traded on the Madrid Stock Exchange and part of the Spanish benchmark IBEX 35 stock index, Cintra was reacquired by its former owner Ferrovial in December 2009.
The Caisse de dépôt et placement du Québec is an institutional investor that manages several public and parapublic pension plans and insurance programs in the Canadian province of Quebec. It was established in 1965 by an act of the National Assembly, under the government of Jean Lesage, as part of the Quiet Revolution, a period of social and political change in Quebec. It is the second-largest pension fund in Canada, after the Canada Pension Plan Investment Board. It was created to manage the funds of the newly created Quebec Pension Plan, a public pension plan that aimed to provide financial security for Quebecers in retirement. The CDPQ’s mandate was to invest the funds prudently and profitably while also contributing to Quebec’s economic development. As of December 31, 2023, the CDPQ managed assets of C$434 billion, invested in Canada and elsewhere. The CDPQ is headquartered in Quebec City at the Price building and has its main business office in Montreal at the Édifice Jacques-Parizeau.
Sherritt International is a Canadian resource company, based in Toronto, Ontario. Sherritt is a miner and refiner of nickel and cobalt. Sherritt is also the largest independent energy producer in Cuba. Sherritt’s common shares are listed on the Toronto Stock Exchange under the symbol "S".
Severstal is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is listed on the Moscow Exchange and LSE and is the largest steel company in Russia. The company is majority-owned and controlled by billionaire Alexey Mordashov.
Mitsui & Co., Ltd. is one of the largest sogo shosha in Japan; it is part of the Mitsui Group.
MDU Resources Group, Inc. is a U.S.-based corporation supplying products and services to regulated energy delivery and utilities related construction materials and services businesses. It is headquartered in Bismarck, North Dakota, and operates in 48 states.
Discovery Air (DA), founded in 2004, was a specialized aviation company that operated primarily in Canada.
The Ring of Fire is a vast, mineral-rich region located in the remote James Bay Lowlands of Northern Ontario, Canada. Spanning approximately 5,000 square kilometres (1,900 sq mi), the area is rich in chromite, nickel, copper, platinum group elements, gold, zinc, and other valuable minerals. Discovered in the early 21st century, the Ring of Fire is considered one of the most significant mineral deposits in Canada, with the potential to greatly impact the nation's economy and global mining industry. The development of this region has been a subject of ongoing debate, as stakeholders weigh the economic benefits against environmental concerns and the rights of Indigenous communities in the area. Despite these challenges, the Ring of Fire had remained a focal point for the Canadian mining sector and government, as well as international investors. By July 2023, the federal and provincial governments were no longer in agreement on priorities for federal funding of the Ring of Fire. Georgia Lake lithium project, KGHM's Victoria mine proposal and the Onaping Depth nickel project—which will produce minerals required for the low carbon economy—had become higher priorities, particularly as the Ring of Fire project is situated in a region of "vast, environmentally sensitive...peatlands".
Energetický a průmyslový holding, a.s. (EPH) is a Czech Republic (Prague) based company currently investing mainly in the energy sector in Europe, founded in 2009. The group's business lines covers the complete value chain ranging from highly efficient cogeneration, power generation, and natural gas transmission, gas storage, gas and electricity distribution and supply. The majority owner is Czech entrepreneur and lawyer Daniel Křetínský (94%), who is ranked among the richest Czechs in the long term and according to Forbes he became a dollar billionaire in 2017. The remaining 6% is distributed among selected managers of EPH. EPH employs almost 25.000 people and comprises over 50 companies.
Murray & Roberts Holdings Ltd. is a South African-based engineering and mining contractor. It is listed on the JSE Securities Exchange. The Group delivers its capabilities into three global primary market sectors the resources, industrial, energy, water and specialised infrastructure market sectors.
AtkinsRéalis Group Inc., previously known as SNC-Lavalin Group Inc., is a Canadian company based in Montreal that provides engineering, procurement, and construction (EPC) services to various industries, including mining and metallurgy, environment and water, infrastructure, and clean energy. AtkinsRéalis was the largest construction company, by revenue, in Canada, as of 2021.
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