Aecon

Aecon Group Inc.

Type	Public
Traded as	TSX: ARE
Industry	Construction, Infrastructure Development, Mining,
Founded	1877 Hamilton, Ontario
Headquarters	Toronto and Calgary, Canada
Key people	Brian V. Tobin Executive Chairman (interim), John M. Beck President and CEO (interim), David Smales CFO
Products	Asphalt
Number of employees	12,000+
Divisions	Aecon Infrastructure Aecon Energy Aecon Mining Aecon Concessions
Website	Aecon Group

Aecon Group Inc. is Canada’s largest publicly traded construction company, providing a range of services to private and public sector clients across its three core segments of Infrastructure, Energy, and Mining.

Aecon produces a number of construction materials including asphalt and aggregate materials,^[1] and pre-construction and pre-fabrication materials developed in eight company-owned fabrication facilities across Canada.^[2]

Aecon has been named one of Canada’s Best Employers every year since 2007^[3] and in 2013 was named a Top Employer by the Globe and Mail.^[4]

The Canadian Construction Associated awarded Aecon the National Safety Award in 2012.^[5]

The company has faced challenges, however. In 2017, Aecon Construction and Materials Ltd was found in violation of the Ontario Water Resources Act relating to a construction contract in northern Ontario in 2013.^[6] Prior to this, Aecon was fined $225,000 (CAD) in 2011 after being judged liable for a 2008 natural gas explosion that killed a homeowner in an Ontario town.^[7] In 2005 they faced a $300,000 (CAD) fine for an earlier gas explosion at a job site in Windsor, Ontario that killed two employees.^[8] The company has been accused of misrepresenting the severity of workplace injuries, although in this they were not alone among large Canadian employers, several of which were discovered engaging in similar practices.^[9]

History

Aecon’s history can be traced back to 1877, when Scottish immigrant Adam Clark started a plumbing and gas fitting business in Hamilton, Ontario. Aecon’s predecessor companies include some of Canada’s most renowned construction names, including The Foundation Company of Canada, Jackson Lewis, Lockerbie and Hole, Banister Pipelines, Nicholls-Radtke, Pitts Engineering Construction, and Armbro Construction.^[10]

As a group, Aecon's origins go back to 1957 to Prefac Concrete of Montreal, a company started by John M. Beck and his parents.

In 2010, Aecon acquired over 500 physical pieces of mining equipment and assets previously owned by Cow Harbour Construction, a large mining and land reclamation contractor located in Alberta’s oil sands.^[11]

Throughout the years, Aecon has been involved in the building of some of Canada’s most important landmarks, including the CN Tower, St. Lawrence Seaway, Highway 407 Express Toll Route, Vancouver Sky Train, and the Montréal–Pierre Elliott Trudeau International Airport.^[10]

Operations

In 2013, Aecon reorganized its operating structure into three core segments.^[12]

Aecon Infrastructure is responsible for the design and construction of large transportation projects, including airport terminals, highways, hydroelectric dams, subway tunnels and utility corridors. The Infrastructure segment represented 41% of 2012 Revenue.^[13]

Aecon Energy offers a comprehensive suite of services to the energy industry, including the oil and gas, nuclear, cogeneration and renewable sectors. This segment comprises the former Industrial group including Aecon Atlantic Industrial Inc., Aecon Industrial Central Canada, and Aecon Industrial Western Canada. The Energy segment represented 35% of 2012 Revenue.^[14]

Aecon Mining provides the oil sands, potash, and mineral mining industry with a full suite of services, including mine-site infrastructure, turnkey mine installation, contact mining services, resource extraction, processing, and land reclamation. The Mining segment represented 23% of 2012 Revenue.^[15]

Aecon Concessions specializes in the development of domestic and international Public-Private Partnership (P3) projects as well as other infrastructure development projects requiring private finance solutions.^[16] The Concessions segment represented 1% of 2012 Revenue.^[17]

Subsidiaries

Aecon Infrastructure: ACML Materials, Aecon Buildings – Atlantic, Aecon Buildings – Montreal, Aecon Buildings – Ontario, Aecon Buildings – Seattle, Aecon Buildings – Facilities Management, Aecon Constructors, Aecon Construction and Materials Limited (ACML), Aecon Construction Management Inc. (ACMI), Aecon Infrastructure – Quebec, Aecon Materials Engineering (AME), Karson, Lockerbie & Hole Contracting, Miwel Construction, South Rock Ltd., Yellowline Asphalt Products Ltd.

Aecon Energy: Aecon Atlantic Industrial Inc., Aecon Industrial – Central Canada, Aecon Industrial – Western Canada, Aecon Utilities, Aecon Utility Engineering., Bremar, QX, Tristar

Aecon Mining: Lockerbie & Hole Eastern, Canonbie, Leo Alarie & Sons^[18]

References

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