CVTech Group Inc.'s subsidiary Thirau LLC has been granted a one-year extension, to May 31, 2013, on a contract to provide electrical services to National Grid USA. This extension represents the first of two one-year renewal options of a long-term agreement awarded in 2009. Revenues over this one-year extension period are estimated at US$20 million. Under the terms of the agreement, Thirau LLC will provide construction, maintenance and repair of electrical distribution lines in National Grid's northeastern US territory. The agreement also calls for the provision, if required, of storm response work in the same region. Such emergency work would represent incremental revenues for the Corporation.
"This contract extension highlights the high quality of services provided by Thirau LLC to National Grid. We are very pleased to further expand our solid business relationship with this leading utility service provider," said André Laramée, president and chief executive officer of CVTech.