Business
HORIZON NORTH LOGISTICS INC. ANNOUNCES NEW CONTRACTS AND PROVIDES OPERATIONAL UPDATE
Jun. 13, 2011 (Canada NewsWire Group) -- TSX Symbol: HNL CALGARY, June 13 /CNW/ - Horizon...
About this update from Dexterra Group, Inc.
[{"type":"text","content":"\n\n\n Jun. 13, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\nTSX Symbol: HNL\n\nCALGARY, June 13 /CNW/ - Horizon North Logistic Inc. ("Horizon" or the "Corporation") announced today that it has recently entered into two long-term camp rental and catering service contracts. The first contract is associated with a hydro electric project in central British Columbia and calls for the provision of a 250 person, single room and private washroom style camp along with catering and camp management services. The contract term is for 50 months. Operation of the camp will be carried out through a joint venture with the Sexqeltkemc of the Secwepemc (Shuswap) First Nation.\nThe second contract is with an oil sands operator and calls for the provision of an 84 person executive style camp to house staff at an oil production facility. The contract term is for 60 months beginning November 2011.\nCombined total revenue from the two projects is expected to be $58 million over the term of the contracts. The $17 million investment associated with the two contracts increases Horizon's planned capital spending in 2011 to $84 million.\n"We continue to see strong demand for our camp and catering and matting services with customers increasingly willing to commit to long term service contracts. This bodes well for the Company's ability to generate sustainable cash flow to fund future growth and to provide additional return to shareholders through the payment of quarterly dividend...