OKOTOKS, AB, April 14 /CNW/ - (TSX-MTL) Mullen Group Ltd. ("Mullen Group" and/or the "Corporation") announced today that its wholly owned operating subsidiary Canadian Dewatering L.P. ("Canadian Dewatering") has been awarded a major contract by Suncor Energy as part of the company's new approach to tailings management at its oil sands mining operations. This is a significant project for Mullen Group, with work scheduled to begin in mid-2010.
"This is an important new piece of business for our organization, one that expands the service offerings Canadian Dewatering provides to one of our largest customers. Being chosen by Suncor to manage the design, build and commissioning of a state of the art Thin Fine Tailing (TFT) Barge System specifically to support Suncor's initiatives related to their tailings reduction operations has our entire organization excited and engaged," commented Mr. Dale Marchand, President, Canadian Dewatering.
The Mullen Group first invested in the pumping, water management and dewatering business in 2004 with the acquisition of Northern Underwater Systems (N.U.S.) Ltd. In 2006 Mullen Group acquired Canadian Dewatering Limited based out of British Columbia, which was one of the largest providers of pumping and water management services in western Canada. Today these companies operate under the Canadian Dewatering brand providing customers in the energy, mining, natural resource and infrastructure sectors of the economy with a wide range of service offerings including: contract dewatering services; the sale, rental and servicing of industrial pumping systems; dredging and barge services; high pressure industrial cleaning; water clarification and sediment control; and commercial diving services, throughout western Canada and the Northwest Territories.
"Our investment in specialized services like water management has proven to be a growth platform for the Mullen Group. The Canadian Dewatering group is a quality focused organization that is supported by a dedicated and skilled team. Under the strong leadership of Dale Marchand and Ian Ross, Canadian Dewatering has worked closely with their customers to identify new opportunities and to expand their service offerings. We are pleased to support their latest growth initiative and to provide the capital needed to meet Suncor's requirements," said Mr. Murray Mullen, Chairman and CEO of the Mullen Group.
"Canadian Dewatering is quickly becoming an industry leader in providing leading edge services related to the management of and reclamation of tailing ponds, for a number of companies involved in the development of Canada's oil sands, an area where we believe considerable investment opportunities remain," added Mr. Mullen.
This press release may contain forward-looking statements that are subject to risk factors associated with the oil and natural gas business and the overall economy. Mullen Group believes that the expectations reflected in this press release are reasonable, but results may be affected by a variety of variables. Mullen Group relies on litigation protection for "forward-looking" statements.
Mullen Group is a company that owns a network of independently operated businesses. Today the Mullen Group is recognized as the largest provider of specialized transportation and related services to the oil and natural gas industry in western Canada and as one of the leading suppliers of trucking and logistics services in Canada - two sectors of the economy in which Mullen Group has strong business relationships and industry leadership. Mullen Group provides management and financial expertise, technology and systems support to its independent businesses.
Mullen Group is a publicly traded corporation listed on the Toronto Stock Exchange under the symbol "MTL". Additional information is available on our website at www.mullen-group.com.
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