- CUQ 14.22
- 0.16 +1.43%
Canem Systems is our Commercial Systems segment. Canem designs, builds, maintains and services electrical and data communication systems for commercial, institutional, light-industrial and multi-family residential customers.
With its head office in Richmond, BC, Canem’s services include:
Canem is an independent business unit. This enables Canem to maximize opportunities to partner with any major general contractor in Canada, including Stuart Olson Dominion.
In the first nine months of 2011, Canem comprised approximately 13% of Churchill’s consolidated revenues(1), 27% of EBITDA(1)(2) (earnings before interest, taxes, depreciation and amortization) and 7% of backlog. Canem is expected to continue to comprise a significant part of Churchill’s revenues, earnings and backlog in the remainder of 2011.
Notes:
(1) Excluding intersegment eliminations.
(2) Excluding the Corporate and Other segment.
On April 29, 2011 Churchill announced the acquisition of McCaine Electric Ltd. for $11.5 million in cash and common shares. Founded in 1918, McCaine was a privately held electrical contractor headquartered in Winnipeg, Manitoba. It is one of the leading and most reputable firms of its kind in Manitoba. McCaine operates as a member of the Canem Systems Group and expands Canem’s capabilities into the Manitoba market, enhancing geographic and customer diversification. McCaine has been selected as the electrical contractor for many ongoing institutional, commercial and industrial projects in the Manitoba market, including: the new Winnipeg Blue Bomber Stadium project, Richardson College for the Environment at The University of Winnipeg, St. Boniface General Hospital Cardiac Centre, various Manitoba Hydro projects, the Arts Building at The University of Manitoba, the Winnipeg Airport expansion, and the Milner Ridge Correctional Centre expansion.