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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Aecon Group Inc    ARE   CA00762V1094

AECON GROUP INC (ARE)
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Aecon : pushes back on fears over proposed sale to Chinese state-owned firm

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02/09/2018 | 05:51pm CET

CALGARY — Construction company Aecon Group Inc. is pushing back against criticism of the sale of the company to Chinese state-owned firm CCCC International Holding Ltd.

The proposed $1.5-billion sale, which shareholders approved in December, has prompted calls for a formal national security review.

The sale has been approved by the Competition Bureau, but still requires clearance through the Investment Canada Act.

The security concerns stems in part from Aecon's work in the nuclear industry, but Aecon CEO John Beck says that contrary to some reports, the company is not involved in sensitive military installations nor does it own any intellectual property related to nuclear energy.

The sale has also prompted concerns over influence and subsidies from the Communist Party of China, but Beck says the party is involved to advise the CCCC board on Chinese national strategic opportunities.

He says the Chinese firm already owns a construction firm in Australia and an engineering business in the U.S., and that both companies continue to be led by local management as will be the case with Aecon.

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© 2018 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials ( CAD)
Sales 2017 2 917 M
EBIT 2017 82,6 M
Net income 2017 32,9 M
Debt 2017 46,1 M
Yield 2017 2,62%
P/E ratio 2017 40,25
P/E ratio 2018 19,31
EV / Sales 2017 0,40x
EV / Sales 2018 0,38x
Capitalization 1 134 M
Chart AECON GROUP INC
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Aecon Group Inc Technical Analysis Chart | ARE | CA00762V1094 | 4-Traders
Technical analysis trends AECON GROUP INC
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Mean consensus HOLD
Number of Analysts 6
Average target price 20,3  CAD
Spread / Average Target 6,2%
EPS Revisions
Managers
NameTitle
John M. Beck Chief Executive Officer & Non-Independent Director
Brian Vincent Tobin Chairman
David Smales Chief Financial Officer & Executive Vice President
Anthony P. Franceschini Independent Director
James Douglas Hole Independent Director
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