Business UpdateJul 8, 2026, 05:11 PM
NACG Awarded Five-Year, $135M Heavy Equipment Services Contract
AI Summary
North American Construction Group Ltd. announced that its subsidiary, ML Northern Services Ltd., has been awarded a five-year heavy equipment services contract with a major Canadian oil sands customer. This contract, the largest in ML Northern's history, is valued at approximately $135 million and will strengthen NACG's recurring revenue profile. It is expected to commence on September 30, 2026, and will require about $5 million in growth capital for new equipment.
Key Highlights
- Awarded a five-year heavy equipment services contract to ML Northern Services Ltd.
- Contract adds approximately $135 million to the Company's contractual backlog.
- Expected to commence on September 30, 2026.
- Anticipated to reach full operational capacity in late 2026 Q4.
- Requires approximately $5 million in growth capital for twenty-five on-highway units.
- The contract has an expiry date of July 5, 2031.
Price Impact
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