CALGARY, May 24, 2018 /PRNewswire/ - Horizon North
Logistics Inc. ("Horizon North" or the "Corporation") (TSX: HNL.TO)
announced today that its Industrial Services division has recently
been awarded several camp service contracts for customers in the
Montney region of Alberta and British
Columbia.
Together, these contracts include the provision of full turn-key
camp facilities, including hospitality and operational services,
across 1,155 beds. Combined revenue is expected to be $55.1 million over the term of the contracts,
which vary in duration through the end of 2019.
The contracts call for the deployment of 334 beds for a new
location, and the continued utilization of 821 beds across three
existing locations, including Horizon North's Gold Creek Lodge. The
new location will be comprised entirely of existing fleet, with a
minimal amount of capital required to mobilize and maintain the
facility. The required capital is included in the Corporation's
2018 capital plan.
"These contracts strengthen Horizon North's position as the
largest open and customer camp provider by market share in the
Montney and Duvernay regions of Alberta and British
Columbia," says Rod Graham,
President and Chief Executive Officer of Horizon North. "Our
high-quality full turn-key offering is appreciated by our
customers, who continue to also recognize and value our
relationships with Aboriginal communities and our world-class
safety record as reasons for doing business with Horizon
North."
About Horizon North
Horizon North is a publicly listed corporation (TSX: HNL.TO)
providing a full range of industrial, commercial, and residential
products and services. Our Industrial Services division supplies
workforce accommodations, camp management services, access
solutions, maintenance and utilities. Our Modular Construction
division integrates modern design concepts and technology with
state of the art, off-site manufacturing processes; producing high
quality building solutions for commercial and residential offerings
including offices, hotels, and retail buildings, as well as
distinctive single detached dwellings and multi-family residential
structures. As a result of our diverse product and service
offerings, Horizon North is uniquely positioned to meet the needs
of our customers in numerous sectors, anywhere in Canada.
Corporate Information
Additional information related to Horizon North, including the
Corporation's annual information form, press releases, financial
statements and MD&A are available on SEDAR
at www.sedar.com
Forward-looking Statements
This press release contains "forward-looking statements" or
"forward-looking information" (collectively referred to herein as
"forward-looking statements") within the meaning of applicable
securities legislation. Such forward-looking statements
include, without limitation, forecasts, estimates, expectations and
objectives for future operations that are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of Horizon North. Forward-looking statements are statements
that are not historical facts and in some cases, but not always,
are identified by the words "will", "expect", "continue" and
similar expressions. This press release contains forward-looking
statements pertaining to, among other things, the following:
contract revenue; facility usage; facility assets, including the
new location; capital expenditures; and customer recognition and
valuation of the Company's relationships and safety record.
Forward-looking statements are necessarily based upon a
number of estimates and assumptions that, while considered
reasonable by Horizon North as of the date of such statements, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. The estimates and
assumptions of Horizon North used for this press release may prove
to be incorrect. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking statements including, without
limitation: general economic, market and business conditions; the
contracts and the new location may not be completed in the
timelines anticipated, in the manner anticipated or at all; the
contracts may not have the results currently anticipated by Horizon
North; Horizon North may be unable to resolve mechanical or
operational issues in the timelines anticipated, in the manner
anticipated or at all; increased costs and expenses; and reliance
on industry partners. Additional information on these and other
risks, uncertainties and factors that could affect Horizon North's
operations and financial results are included in Horizon North's
annual information form and other documents which may be accessed
through the SEDAR website at www.sedar.com.
Although Horizon North believes that the material factors,
expectations and assumptions expressed in such forward-looking
statements are reasonable based on information available to it on
the date such statements were made, no assurances can be given as
to future results, levels of activity and achievements and such
statements are not guarantees of future performance. Horizon
North's actual results may differ materially from those expressed
or implied in forward-looking statements and readers should not
place undue importance or reliance on the forward-looking
statements. Statements including forward-looking statements are
made as of the date they are given and, except as required by
applicable securities laws, Horizon North disclaims any intention
or obligation to publically update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
View original
content:http://www.prnewswire.com/news-releases/horizon-north-logistics-inc-announces-recently-awarded-industrial-services-contracts-300654673.html
SOURCE Horizon North Logistics Inc.