CVTech Group Inc. announced that its subsidiary Thirau LLC has been awarded three long-term contracts by subsidiaries of one of the largest utility companies in the United States. The contracts call for the provision of construction, maintenance and emergency services for overhead electrical distribution networks in New York City and its suburbs over a three-year period beginning in September 2012 and reaching out to August 2015. The total value of the contracts is estimated at US$68.8 million.
The three contracts consist of the following:
- A new contract valued at US$35.4 million to provide services for networks located in the Bronx and Westchester County, New York
- A US$17.6-million contract to provide services for networks located in the northwestern suburbs of New York City. This contract replaces an existing mandate with a new three-year agreement
- A new contract valued at US$15.8 million to provide services for networks located in Brooklyn, Queens and Staten Island.
"These significant long-term contracts attest to the strength of our relationship with large-scale utility companies in the Eastern United States. It also provides evidence that Thirau is well positioned to capture strategic business opportunities in its markets by virtue of its solid reputation, proven expertise and excellent safety record. We are looking forward to further expand the scope of our involvement with the major utility companies," said André Laramée, President and Chief Executive Officer of CVTech.
