ST. ALBERT, ALBERTA — (Marketwired) — 09/17/13 — Enterprise Group, Inc. (“Enterprise”, or “Company”) (TSX: E) is pleased to announce that on September 25, 2013, the Company will be presenting at the upcoming LNG Investment Conference produced by Keith Schaefer–s Oil & Gas Investment Bulletin. This is a highly anticipated event by several analysts and investors who are interested in the massive LNG build-out taking place in Western Canada. The Vancouver conference features a basket of high quality Canadian listed construction service companies that are extremely well positioned to service the midstream producers who are budgeting billions of dollars to build the supporting pipelines and infrastructure. Further information on the conference can be viewed at .
Enterprise will also be presenting at NAI Interactive–s Global Chinese Financial Forum in Toronto on September 21, 2013. Ten participating companies will be presenting to hundreds of Chinese investors who follow the resource, oil & gas and energy services sectors.
Operational Updates
CALGARY TUNNELLING & HORIZONTAL AUGERING LTD. (CTHA)
Since the acquisition was completed in mid-June of this year CTHA has backlogged and completed approximately $8.4 million in project construction. Included in this backlog is over $2.5 million in pipeline related projects.
T.C. BACKHOE & DIRECTIONAL DRILLING (TC)
Enterprise is pleased to update that the current backlog at the TC division includes nearly $4 million in underground subdivision projects which equates to over 600 new residential lots. The power line crews at TC have backlogged a further $3.5 million in projects, much of this relating to new construction of power distribution to many of the upgrading facilities being built in the greater Edmonton region.
ARTIC THERM INTERNATIONAL LTD. (ATI)
Further to Company reports on ATI–s progressive capital expenditure plan for 2013, ATI has taken delivery of 3 of the 6 newly built 3 million BTU truck units. The remaining are scheduled to be delivered prior to the peak heating/construction season. These additional units will bring the high output fleet to a total of ten units. The design of these units have been optimized for extreme efficiency and heat delivery. Units of this caliber charge out at $15,000 per day in peak season with a four man operating crew. Management is pleased with the sales and marketing efforts and expects a high utilization rate through this next peak heating/construction season.
E ONE LIMITED (E One)
Management is extremely pleased with this summers– increase in utilization of its heavy equipment rental fleet. E One is currently operating at approximately 85% utilization a nearly 30% increase in the same period in 2012.
In a further IR related update, management is working with HOTSTOQX.com to provide an increased presence to the U.S. retail investment community.
About Enterprise Group, Inc.
Enterprise Group Inc. (“Enterprise” or “Company”) (TSX: E) is a consolidator of construction services companies operating in the energy, utility and transportation infrastructure industries. The Company–s focus is primarily construction services and specialized equipment rental. The Company–s strategy is to acquire complementary service companies in Western Canada, consolidating capital, management and human resources to support continued growth. Enterprise became a Western Canadian leader in flameless heat technology in September 2012 with its acquisition of Artic Therm International Ltd. and has now become a technological leader in underground infrastructure construction by the closing of Calgary Tunnelling & Horizontal Augering Ltd. June 14, 2013.
Forward-Looking Information
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or the Company–s future performance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company–s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The Company–s Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website ) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The Company disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
Contacts:
First Canadian Capital Corp.
Daniel Boase
416-742-5600
Enterprise Group, Inc.
Leonard D. Jaroszuk
President & CEO
780-418-4400
Enterprise Group, Inc.
Desmond O–Kell
Vice President
780-418-4400