TORONTO, March 04, 2026 (GLOBE NEWSWIRE) -- Aecon Group Inc. (TSX: ARE) ("Aecon") announced today that a partnership between Aecon, Pomerleau and Stantec has executed an agreement with Defence Construction Canada to deliver the Arctic Over-the-Horizon Radar Program Stage 1 project in Ontario.
Under a collaborative Integrated Project Delivery ("IPD") model, Defence Construction Canada serves as the project owner and an Aecon-led 50/50 joint venture between Aecon and Pomerleau is responsible for project delivery. A validation phase will commence in the first quarter of 2026. Upon validation and the completion of a design development phase, construction is expected to commence.
Implemented by Canada's Department of National Defence, the Arctic Over-the-Horizon Radar Program is part of a key NORAD modernization initiative that will advance the renewal of Canada's North Warning System. The program will establish a northward-aimed radar system with long-range surveillance of the northern approaches to major population centres in North America.
"Aecon is purpose-built to deliver complex projects with national importance. The Arctic Over-the-Horizon Radar Program is a critical undertaking and Aecon is primed to play a central role in delivering this essential defence infrastructure project alongside Defence Construction Canada and our partners," said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon Group Inc.
Further project information is available on the MERX website.
About Aecon
Aecon Group Inc. (TSX: ARE) is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Join our online community on X, LinkedIn, Facebook, and Instagram @AeconGroupInc.
For further information:
Adam Borgatti
SVP, Corporate Development and Investor Relations
416-297-2600
ir@aecon.com
Nicole Court
Vice President, Corporate Affairs & Communications
416-297-2600
corpaffairs@aecon.com
Statement on Forward-Looking Information
The information in this press release includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for Aecon, including statements regarding the various phases of the project and expectations regarding project timelines, and the anticipated clearance of regulatory inspections. Forward-looking statements may in some cases be identified by words such as "may," "will," "expects," "target," "future," "plans," "believes," "anticipates," "estimates," "projects," "intends," "should" or the negative of these terms, or similar expressions.
In addition to events beyond Aecon's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to, the risk of not being able to meet contractual schedules and other performance requirements, the risks associated with a third party's failure to perform; the risk of not being able to meet its labour needs at reasonable costs; the risk of not being able to address any supply chain issues which may arise; the risk of the anticipated benefits from the project not being fully realized; and the risk of not being able to validate and complete the design development phase as anticipated. These forward-looking statements are based on a variety of factors and assumptions including but not limited to that: none of the risks identified above materialize, there are no unforeseen changes to economic and market conditions, and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to Aecon, including information obtained from third-party sources. While Aecon believes that such third-party sources are reliable sources of information, Aecon has not independently verified the information. Aecon has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources.
Risk factors are discussed in greater detail in Section 13 - "Risk Factors" in Aecon's 2024 Management's Discussion and Analysis for the fiscal year ended December 31, 2024 and Aecon's Management's Discussion and Analysis for the fiscal quarter ended September 30, 2025, each filed on SEDAR+ (www.sedarplus.ca). Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
