Aecon

Aecon Group Inc. is a Canadian construction company that produces materials such as asphalt and aggregate and operates eight fabrication facilities across Canada. It has contributed to notable projects like the CN Tower, St. Lawrence Seaway, Ontario Highway 407, Vancouver Skytrain, and Montreal-Trudeau International Airport. Aecon’s history dates back to 1867 when Adam Clark founded a plumbing business in Hamilton, Ontario. The company evolved through various predecessors, including Prefac Concrete, started by John M. Beck in 1957. In 2010, Aecon acquired mining equipment from Cow Harbour Construction, expanding its capabilities. In October 2017, Aecon agreed to be acquired by CCCC International Holding Limited for $20.37 per share, valuing the company at $1.51 billion. However, the Canadian government blocked the sale in May 2018 due to national security concerns. In November 2018, Aecon sold its Contract Mining assets to North American Construction Group for $199.1 million. Aecon operates through three segments: Infrastructure, Industrial, and Concessions. The Infrastructure segment focuses on large transportation projects like airports and highways, accounting for 41% of 2012 revenue. The Industrial segment provides services to mines, power plants, and oil facilities. The Concessions segment develops Public-Private Partnership (P3) projects, representing 1% of 2012 revenue. In October 2024, Aecon acquired United Engineers & Constructors for $33 million to enhance its nuclear capabilities. Aecon has faced legal issues, including a 2017 violation of the Ontario Water Resources Act and fines for safety incidents in 2005 and 2011. The company was also accused of misreporting workplace injuries, a practice common ...