CALGARY, ALBERTA--(Marketwire - July 2, 2009) - On July 1, 2009, ATCO Ltd. ("ATCO") and Canadian Utilities Limited ("CU") finalized the previously announced transaction to combine ATCO Structures Inc. and ATCO Noise Management Ltd., both wholly-owned subsidiaries of ATCO, with ATCO Frontec Corp., a wholly-owned subsidiary of CU, to form ATCO Structures & Logistics Ltd.
ATCO and CU have ownership interests of 75.5% and 24.5% respectively in the new company.
Harry Wilmot has been appointed President & Chief Operating Officer, ATCO Structures & Logistics Ltd. Mr. Wilmot brings to the position more than 30 years of ATCO experience. He was most recently President & Chief Operating Officer, ATCO Structures and ATCO Frontec.
ATCO Ltd., an Alberta-based worldwide organization of companies with assets of approximately $9.8 billion and more than 7,700 employees, is comprised of three main business divisions: Power Generation, Utilities (natural gas and electricity transmission and distribution) and Global Enterprises (industrial manufacturing, technology, logistics and energy services). More information about ATCO Ltd. can be found on its website, www.atco.com.
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Corporation believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.
Any forward-looking information contained in this news release represents the Corporation's expectations as of the date hereof, and is subject to change after such date. The Corporation disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
FOR FURTHER INFORMATION PLEASE CONTACT:
President & Chief Executive Officer