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Volume 2/ Issue 1/ Februar y 7-March 5, 2018 / GTA West
Chinese company cccc bought the leading Canadian construction company : Ottawa sits on hands
opposition. Aecon is expected to retain its name and remain headquartered in Canada. Opposition to the deal has been politically unilateral, yet perhaps articulated most concisely by former Member of Parliament and Cabinet Minister, Peter MacKay’s opinion piece in iPolitics. CCCC being a state-owned enterprise could pose a security threat to Canada due to advanced knowledge and access to our infrastructure through the deal, he argues. A contract for renovations to the Darlington nuclear power complex, for example, has been given to Aecon recently. Findings by the Globe and Mail that CCCC plans to install a communist party unit in Aecon’s corporate ranks only further aggravates the situation. Security and politics aside, the move would be economically harmful to Canadians, argues MacKay, pointing out that infrastructure investments tend to result in better standards of living, ...
By Sarah McGoldrick and Joey Clavette In a move that could chip away at Canada’s economic sovereignty, China’s state-owned Communications Construction Company Limited (CCCC), through its subsidiary CCCC International Holdings Limited (CCCI), is attempting to acquire Aecon Group, Canada’s third-largest construction company. Aecon provides construction services for core segments of the industry including Infrastructure, Energy, Mining, and Concessions. Aecon has been a
significant builder in Canadian history, known for constructing the CN Tower, Pierre Elliott Trudeau International Airport, the St. Lawrence Seaway, and other Canadian landmarks. The agreement includes the acquisition of all issued and outstanding common shares of Aecon for $20.37 per share in cash, with a total value of $1.51 billion. The acquisition has raised public concern with all major national newspapers printing editorials on the subject, both in favour and
Ellis Don
Ontario’ s New Canadian Company Construction and t r a i n s w o m e n Building Codes f o r t h e t r a d e s
tackles new form of
public-private relationship
in Trafalgar project
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By Bahar Faizi Women Building Futures (WBF) is the first organization of its kind, and is currently in the process of expanding to other provinces, including Ontario. The WBF is a nonprofit that trains women of all ages to succeed in skilled trades and construction. The program assists graduates in landing jobs, and helps students receive the mentorship and support needed throughout their training.
Read about the construction of the new Trafalgar hospital in Oakville, and the innovative new public-private relationship EllisDon and Carillion Canada made that might shape future public-private projects.
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The new Construction Act has initiated a number of regulatory changes, including, a) extending the timelines to file liens and start court actions to 150 days, providing additional time for contractors and subcontractors to resolve disputes out of court; b) requiring holdback funds to be paid immediately following the passing of the deadline to file a liens, ensuring contractors and subcontractors are paid on time;... Continued on p.5