CALGARY, ALBERTA / December 4th, 2014) / QE2 Acquisition Corp. (“QE2” or the “Corporation”) (TSX VENTURE:QE) is pleased to announce that Pillar Contracting Ltd. (“Pillar”), a wholly owned operating subsidiary, has successfully bid and been awarded a contract by the City Of Calgary to continue the installation phase of 1,000 new LED streetlight heads in parts of the city.
Pillar is based in Fort Saskatchewan, Alberta, and became QE2’s first acquisition in October 2013. Pillar provides streetlight, electrical, equipment painting and traffic control services to a range of municipal and blue chip clients. Pillar has operated successfully for over 17 years with growth driven primarily by repeat customers and word of mouth. The City Of Calgary becomes Pillar’s newest municipal customer and represents the first successful bid for Pillar under QE2’s ownership. In order to service the contract, Pillar will make use of storage facilities and logistics at QE2’s second wholly owned operating subsidiary, Candesto Enterprises Ltd. (“Candesto”), which QE2 acquired in April 2014 and is based at Calgary.
Mark Lacoursiere, Pillar’s General Manager, states, “Becoming part of the QE2 portfolio has extended Pillar’s capabilities in terms our geographical footprint, access to capital and expertise to bid on work. We’re excited to provide Pillar’s specialist streetlight services to the City Of Calgary. There are over 80,000 streetlights in Calgary that could benefit from LED technology. Pillar has the expertise and capacity to change every one of them.”
The contract is expected to commence in early December and be completed on or around the middle of February 2015.
“The shift to LED technology will provide higher quality lighting for our roadways, while also reducing electricity usage and lowering maintenance costs,” said Troy McLoed, Director of Roads. “Calgary is a rapidly growing city, and this initiative will help us deliver cost-effective and sustainable infrastructure.”
For more information on The City of Calgary’s e2 Street Lighting Program, please visit Calgary.ca and search “LED lighting”. For media inquiries, contact The City of Calgary’s Transportation Department at 403-828-2954, or email [email protected].
About QE2 Acquisition Corp. (www.qe2corp.com):
QE2 is a forward thinking, Alberta-founded firm that acquires and grows well-managed, profitable, asset-backed, Alberta-based businesses in the infrastructure and utility service sectors. QE2’s growth strategy is a mergers and acquisitions program which leverages the synergies that can be achieved by vertical and horizontal integration. For further information, please contact Mihalis Belantis, CEO and Director, #4034, 909 – 17th Avenue SW, Calgary, Alberta, T2T 0A4, Tel: (403) 478-0055, Fax: (403) 770-8468, Email: [email protected].
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