CVTech Group subsidiary Riggs Distler awarded US$24 million in contracts

DRUMMONDVILLE, Que. – CVTech Group Inc. (TSX:CVT) says its subsidiary Riggs Distler & Company Inc. has been awarded three new contracts valued at more than US$24 million.

The Quebec-based company said Tuesday that one of the contracts was signed with a major U.S. Mid-Atlantic utility company that it did not name.

The contract, valued at $18 million, covers upgrading the overhead electric distribution network in Southern Maryland and Washington, D.C. The project will begin soon and is targeted to wrap up in December 2013.

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Another contract signed with the Philadelphia Water Department involves the installation of electric feeders in a pump house for $4.3 million, with a state date in early 2012.

The third contract is with a major American energy producer for $1.7 million to replace a boiler wall at a power plant in Delaware, and is expected to finish in the fourth quarter.

CVTech is a management company whose main subsidiary Riggs Distler provides services to the electric power industry for the maintenance of transmission and distribution lines, primarily in Quebec and the eastern United States.