Horizon North Logistics Inc. ("Horizon North" or the "Corporation") (TSX – HNL) announced today that its Industrial division has recently been awarded a new camp service contract.
Horizon North has been awarded a contract for the provision of camp solutions in the Wapiti area near Grande Prairie, Alberta. Horizon North will be supplying and installing a 390 person camp as well as providing ongoing catering and hospitality services over an initial 20 month term.
Revenue over the initial term of the contract is expected to be a minimum of $22 million based on committed occupancy and utilization levels. The facility will be comprised of existing fleet assets and an additional $1.2 million of newly manufactured equipment. The additional capital is included in the Corporation's 2017 capital budget.
"Our fully integrated approach to handling the entire process from permitting through to occupancy, on a compressed timeline, demonstrates our logistical and execution capabilities." said Rod Graham, President and CEO of Horizon North. "Through commitment and understanding our customers' needs we are able to provide them with exceptional value and support. We are pleased with the award of the initial phase of this multi-phased project, with the option for future work."
About Horizon North
Horizon North is a publicly listed corporation (TSX: HNL.TO) providing a full range of industrial, commercial, and residential products and services. Our Industrial division supplies workforce accommodations, camp management services, access solutions, maintenance and utilities. Our Modular Construction division integrates modern design concepts and technology with state of the art, off-site manufacturing processes; producing high quality building solutions for commercial and residential offerings including offices, hotels, and retail buildings, as well as distinctive single detached dwellings and multi-family residential structures. As a result of our diverse product and service offerings, Horizon North is uniquely positioned to meet the needs of our customers in numerous sectors, anywhere in Canada.
Additional information related to Horizon North, including the Corporation's annual information form, news releases, financial statements and MD&A are available on the Corporation's website at www.horizonnorth.ca
SOURCE: Horizon North Logistics Inc.
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