Business
So Why Does the Union Care??
So Why Does the Union Care?? Canada NewsWire OTTAWA, Feb. 7, 2018 OTTAWA ,...
About this update from Aecon Group Inc.
[{"type":"text","content":"\n\n\n\nSo Why Does the Union Care??\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, Feb. 7, 2018\n\n\n\nOTTAWA, Feb. 7, 2018 /CNW/ -The Aecon Group (Aecon) is an iconic Canadian construction firm that works across the country and has completed some of its biggest and most complex projects. It employs thousands of our members, in virtually every construction discipline. It is also subject to a friendly takeover by a much larger Chinese construction firm, CCCC International Holding Limited (CCCI).\n\n\n \n \n\n \nOrdinarily, any takeover, merger or even new joint venture partnership creates its own set of issues and worries.  What will happen to big picture items, like book of business, market penetration, bargaining relationships and much smaller issues like will they replace the person we've done business with for 30 years? These are often emotive issues as well.  We all fear change and we all suspect that change will be worse, lesser or somehow more 'disturbing' than the status quo we have come to rely upon.  This business acquisition has attracted more than its fair share of notice.\n\nConstruction is a highly competitive business and there are not a huge number of firms with the financial, management, engineering and trades skills required to do most any project.  Aecon is a company that has these capabilities; but its capacity has limits.  You can only bid what you can bond – most owners of construction want security that their chosen contractor can keep the work going, and if they stumble that there is recourse to get the job finished.  They also want to be certain that the contractor can pay its bills as they become due and avoid the owner's project being the target of liens that can stop the owner's own project cash flow.  One of the ways that construction firms protect themselves from the inherent risks on mega-projects is to engage in joint venture arrangements.  These split the risk and allow some firms to take on matters in which they are acknowledged as masters.  Virtually all joi...