Buildings Group at Stuart Olson lands $130M in new contracts
By On-Site StaffConstruction
CALGARY—Stuart Olson Inc. said Sept. 11 that its Building Group has secured several new contracts that total $130 million.
Though it released few details of the new agreements, it said they include a contract for the construction of a new private sector light industrial facility in Western Canada and a construction management deal to build a new student residence at an Ontario college or university.
“These new contract awards are important wins for our Buildings Group,” David LeMay, the company’s president and CEO, said in a release. “They reflect our strong relationships with repeat clients, highlight our revenue diversification strategy and emphasize our expertise in the construction management delivery model.”
The Calgary-based contractor reported earnings and revenue last month that slipped below its 2018 figures. LeMay said at the time he anticipates a stronger second half to 2019 as the company’s diversification efforts begin to bear fruit.