Canada’s construction sector up ‘for sale’ as Aecon looks for bidder
By canadianmanufacturing.comConstruction Aecon
A number of global companies could be in the running to buy Aecon, which has worked on major Canadian projects, such as Toronto's CN Tower and Vancouver's SkyTrain
Aecon, along with other Canadian construction companies, has been hurt by the fall in crude prices and subsequent drop-off in oil and gas industry spending[/caption]
TORONTO—Canada’s construction industry may soon have a better idea of how attractive it is to the increasingly globalized building sector as one of its biggest catches sits on the auction block awaiting bidders.
Toronto-based Aecon Group Inc. is in the process of courting suitors after it put it itself up for sale Aug. 25, a move analysts say will draw players across Europe, the U.S. and China looking to size up the company’s—and Canada’s—potential.
In its 140-year history, Aecon has been involved in landmark construction and engineering projects, including the CN Tower, Vancouver’s SkyTrain and the Halifax Shipyard. It currently has major contracts for Toronto transit and nuclear refurbishment, among others.
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