CVTech Group Inc. subsidiary awarded new contracts
Riggs Distler & Company lands US$30.3 million in energy distribution contracts.
Drummondville, QC — CVTech Group Inc. announced that its subsidiary Riggs Distler & Company, Inc. has been awarded several contracts with a total value of US$30.3 million.
First, the value of a contract currently included in the Corporation’s backlog has been increased by more than US$12.5 million. This contract, awarded by a major Maryland electric and natural gas provider, is for the maintenance of underground electrical distribution networks until the end of 2016. The total contract value now reaches over US$60.0 million, up from US$47.5 million previously.
Second, a New Jersey electric provider awarded a new four-year contract valued at over US$6.0 million for the installation of underground electrical infrastructure using the directional drilling method.
Third, Riggs Distler has obtained several new contracts totalling US$6.8 million to provide services for electrical transmission networks and substations for electric utility companies in New Jersey and Pennsylvania. These projects will be completed in 2011 and are designed to improve electric reliability and implement smart grid technologies.
Finally, a major electric generation company awarded two new mechanical contracts valued at US$5.0 million involving the provision of maintenance services for coal-fired boilers in Maryland and New York. This work will be completed within eight months.