Aecon talks about the infrastructure industry in the second half of this year - looking good. http://tiny.cc/s6vma
The CEO, Scott Balfour, admits he is not sure if the rush of work is due to the government spending on infrastructure but that there is more work than they usually see. When I last heard Scott speak, it was to The Ticker Club, Toronto, and I was impressed with his positive energy and global perspective.
Here's part of the article:
By David Paddon (CP)
TORONTO — Canadian construction heavyweight Aecon Group Inc. (TSX:ARE) is finding new bidding opportunities are coming forward at an unprecedented pace that's likely the result of government economic stimulus packages, top executives say.
For the last six or eight weeks there have been significant new project opportunities every week that are "clearly being pushed as part of the stimulus package that we've been hearing so much about," Aecon president Scott Balfour said Wednesday on a conference call for analysts.
One analyst noted that some of the projects on Aecon's to-do list have been there for some time before the economic downturn and asked how much credit to give to the government stimulus spending.
"Truthfully, I don't know that it's possible for us to differentiate," Balfour replied. "Would all those projects still have been going but for the stimulus package? I just don't know."
But he added that the pace and number of projects coming forward at once has never been seen before "and so I can't help but believe that a lot of that is as a result of the incremental funding from the stimulus programs."
John Beck, Aecon's chairman and chief executive officer, said the Toronto-headquartered company is seeing an urgency to spend the money prior to March 31, 2011, the announced date for end of the federal stimulus program.
"And so there's a scramble. We're seeing that on some of the projects that may have been planned before," Beck said.