Aecon Group wins $58.3-million contract to expand Ontario highway

By The Associated Press

Thursday, November 19, 2009

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Aecon Group Inc. (TSX:ARE) said Thursday that it has won a $58.3-million contract from the Ontario Ministry of Transportation to expand Highway 69 near Estaire, Ont.

Under the contract, the construction company will widen the highway from two lanes to four lanes for a stretch of nearly 15 kilometres.

The project will include the construction of one new interchange, nine concrete drainage culverts and two new bridges.

Shares of Aecon, which announced its results after the close of markets, were down 10 cents at $14.10 on the Toronto Stock Exchange on Thursday.

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