Black Diamond Group Awarded $20 Million Workforce Accommodation Contract
FORT WORTH, Texas and CALGARY, Alberta, April 29, 2019 (GLOBE NEWSWIRE) -- (TSX: BDI) Black Diamond Group Limited (“Black Diamond Group” or the “Company”), a leading provider of modular space solutions and workforce accommodations, is pleased to announce that the Company’s US Workforce Solutions business unit has been awarded a $20 million rental contract. The contract has the Company supplying 1,584 beds to support the reconstruction of Paradise, California, where one of the largest fires in state history devastated the town and local infrastructure. The initial term of the contract is for a minimum of nine months, with an option to extend, and includes transportation costs.
“We are pleased to be one of many supporters in the massive undertaking that is to clean-up and rebuild the town of Paradise. Our team is expected to rapidly supply a large contingent of dormitories that will be used to help house the workforce in the clean-up effort,” said Trevor Haynes, President and CEO of Black Diamond Group.
The contract highlights the Company’s continued focus on industry and geographic diversification, while also allowing the Company to capitalize on meaningful operating leverage in the Workforce Solutions business unit with no requirement for incremental capital investment.
About Black Diamond Group
Black Diamond Group rents and sells space rental solutions and modular workforce accommodations to business customers in Canada, the United States and Australia. The Company also provides specialized field rentals to the oil and gas industries of Canada and the United States. In addition, Black Diamond Group provides turnkey lodging services, as well as a host of related services that include transportation, installation, dismantling, repairs, maintenance and ancillary equipment rentals. From twenty-two locations, the Company serves multiple sectors including oil and gas, mining, power, construction, engineering, military, government and education.
Black Diamond Group has two core business units: Modular Space Solutions and Workforce Solutions. Learn more at www.blackdiamondgroup.com.
For investor inquiries, please contact Jason Zhang at 403-206-4739 or investor@blackdiamondgroup.com.
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Reader Advisory
Forward-Looking Statements
Certain information in this news release contains forward-looking statements including the timing of the deployment of equipment and associated revenue, the potential contribution from the contract, the terms of the contracts and future business prospects and opportunities. With respect to the forward-looking statements contained in this news release, Black Diamond has made assumptions, regarding among other things: the level of demand for workforce accommodation in the regions mentioned, and that counterparties to contracts will perform the contracts as written. Although Black Diamond believes that the expectations reflected in the forward-looking statements contained in this news release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations or assumptions will prove to be correct. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond Black Diamond's control including, without limitation, the impact of general economic conditions, industry conditions, fluctuation of commodity prices, environmental risks, industry competition, availability of qualified personnel and Management, stock market volatility and timely and cost effective access to sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the forgoing list of factors is not exhaustive. Additional information on these and other factors that could affect Black Diamond's operations and financial results are included in Black Diamond's most recent annual information form and other reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) and at Black Diamond's website (www.blackdiamondgroup.com). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Black Diamond does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
