CVTech Group Inc. announced that its subsidiary Thirau ltée has obtained, under an extension option, the renewal of a major contract for the construction, maintenance and modification, on demand, of overhead distribution networks in Hydro-Québec's Montreal and Richelieu territories. The one-year extension is for calendar 2012. Its value is estimated at $13.0 million and approximately 100 employees will carry out the work.
"The renewal of this contract illustrates our solid business relationship with Hydro-Québec as well as its high degree of satisfaction with our services," said André Laramée, CVTech President and Chief Executive Officer.
CVTech is a management company operating in two major sectors. Through Thirau ltée and its subsidiary Thirau LLC, the CVTech provides services to the electric power industry for the maintenance of transmission and distribution lines, primarily in Quebec and the eastern United States. Another Thirau ltée subsidiary, J.J.L. Déboisement Inc., specializes in control of vegetation surrounding power lines and in clearing rights of way.