CVTech Group awarded contracts from Hydro-Quebec valued at $29 million

DRUMMONDVILLE, Que. – Powerline maintenance and services company CVTech Group (TSX:CVT) has been awarded three Hydro-Quebec contracts valued at $29 million that will employ about 200 employees.

The public electricity utility exercised an option to renew a contract for one year to build, maintain and modify overhead distribution networks in the Montreal and Richelieu areas of the province at a cost of $15 million. About 100 employees will conduct the work.

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CVTech’s Thirau subsidiary will also build a 230 kilovolt, double-circuit line to connect the new De Charlesbourg substation to the Ile Maligne/Quebec line. Work on the $10 million contract will begin in January and should be completed in September, employing up to 80 workers.

Its J.J.L. Deboisement subsidiary has been awarded a two-year contract valued at $4 million to control vegetation on rights-of-way of distribution lines in Hydro-Quebec’s Lanaudiere region. About 20 people will be employed. The contract includes two options for two-year renewals.

CVTech president and CEO Andre Laramee said the contracts reflect upon the “solid and longstanding business relationship” that the company has with Hydro-Quebec.

CVTech, which provides maintenance of power transmission and distribution lines, primarily in Quebec, Ontario and the eastern United States, reduced its debt with proceeds from $17.3 million sale in October of its systems division.