ST. ALBERT, ALBERTA -- (Marketwire) -- 01/17/13 -- Enterprise Group, Inc. ("Enterprise" or the "Company") (TSX: E) is pleased to announce the appointment of Mr. Warren Cabral as Chief Financial Officer effective immediately.
Leonard Jaroszuk, President and Chief Executive Officer of Enterprise comments, "We are very pleased to welcome Warren to our team." "Warren has extensive hands-on experience implementing and managing change in complex environments and brings to Enterprise the necessary financial skill set needed to execute our business plan. Our plan for rapid growth, both organically and by acquisition, is what attracted Warren to Enterprise. We now have in place another piece of the team Enterprise needs to reach its goals."
Mr. Cabral was most recently CFO for one of Canada's largest institutional investment fund managers, managing global investments for pensions, endowments and government funds in Alberta. Mr. Cabral is a graduate from the University of Alberta, a member of the Institute of Chartered Accountants of Alberta and is an alumnus of Ernst & Young.
Enterprise is also pleased to provide a corporate update on recent activities:
Enterprise's infrastructure and utility construction division, T.C. Backhoe & Directional Drilling (TC) has secured the continuation of a long term arrangement with one of Canada's premier electricity utility providers to provide new construction and maintenance services specific to a geographic region to the North East and around to the South East of metro Edmonton. Further to this continuation, the same utility provider has awarded TC a new long term arrangement for the geographical region from the North West around to the South of metro Edmonton. The combined regions make up the entire circumference around the City of Edmonton. The new long term arrangement will have a meaningful additional impact to TC's future revenues.
Mr. Jaroszuk, President & CEO comments further; "As we progress into 2013, demand for our services and specialized equipment remains extremely strong across the resource and broad based construction sectors that we serve."
Artic Therm International (ATI), Enterprise's flameless heating rental division is reporting higher than historical utilization of its rental fleet for this current winter season. ATI is also pleased to report that further pipeline thermal expansion work has been requested immediately by the world's largest producer of bitumen operating in Fort McMurray and ATI will be sending one its 3 million BTU heating units and crews to complete the project.
E One Limited, Enterprise's heavy equipment rental division is pleased to report that it also is operating a higher than historical utilization of its rental fleet for the current winter season.
Forward Looking Statements
Certain statements contained in this 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", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on current beliefs or assumptions as to the outcome and timing of future events. Actual future results may differ materially. In particular, statements with respect to anticipated activity levels and profitability of the Company's utility and infrastructure division and anticipated increases in revenue and margins attributed to services provided by the Company to the energy sector contain forward looking information. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website at www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The forward-looking statements and information contained in this document are made as of the date hereof for the purpose of providing the readers with the Company's expectations for the next year. The forward-looking statements and information may not be appropriate for other purposes. 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.
First Canadian Capital Corp.
145 Front Street East
Toronto, ON. M5A 1E3
Enterprise Group, Inc.
Leonard D. Jaroszuk
President & CEO
Enterprise Group, Inc.
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