News
Summer 2010
Capital Restructuring Positions Tercon for Expansionary Growth
KAMLOOPS, BRITISH COLUMBIA, September 10, 2010 - Tercon Investments Ltd. ("Tercon") and its subsidiary operating companies, Tercon Construction Ltd., Tercon A.C. Ltd. and Tercon Enterprises Ltd. are pleased to announce that as of August 27, 2010 Pala Investments Holdings Limited ("Pala") together with Dan Dumas, made substantial investments in Tercon which resulted in Pala acquiring a majority interest in Tercon.
Pala is a financial investor with extensive mining and natural resource sector experience. Pala currently holds significant interests in several Canadian natural resource sector and mining service sector companies.
" The investment of Pala and Mr. Dumas marks a milestone for Tercon. With a significantly strengthened balance sheet, solid financial backing from a committed ownership group and the existing dedicated team, Tercon can focus on creating a successful future by continuing to provide top-quality service to our current clients and by expanding our operations to grow our business," said Milan Soucek, Tercon's President and Chief Executive Officer.
"Pala is pleased to add Tercon to its growing portfolio of heavy civil and construction, mining and natural resource sector service companies. In Pala's view, Tercon is a high-quality and professional operation and now, with the restructured balance sheet, we see even greater potential as Tercon uses its increased financial flexibility to capitalize on opportunities in its target markets. Pala looks forward to working with Tercon," said Mike Barton, Vice President of Pala Investments AG and newly appointed Director of Tercon.
About TerconTercon is a multidiscipline heavy civil, construction and mining contractor with operations in Canada and USA since 1981. With particular expertise in road construction, site development, contract mining and reclamation Tercon is one of the leading contractors in Western Canada.
About PalaPala Investments Holdings Limited is a US$1.0 billion multi-strategy investment company focused on mining and natural resource companies in both developed and emerging markets. Pala Investments' exclusive investment advisor, Pala Investments AG, has extensive experience within the mining and natural resource sectors. Pala Investments seeks to assist companies in which it has long-term shareholdings by providing strategic advice and innovative financing solutions. For more information, visit www.pala.com.
For further information: Milan Soucek President & CEO Tercon Investments Ltd. +1 250 372-0922
Spring 2010
New Appointment
Tercon is pleased to announce the appointment of Joseph Hanna as Tercon's new Chief Operating Officer ("COO").
Joseph is a civil engineer with over 24 years of experience in providing the highest standard of service to the worldwide heavy civil and construction industry. He has held positions at Ruskin Construction Ltd., Walter Construction Corp. and Soletanche Enterprise (Paris, France).
Joseph holds a Civil and Structural Engineering degree from Zagazig University in Cairo, Egypt.
Prior to joining Tercon, Joseph was Executive Vice President with Ruskin Construction Ltd., responsible for operations in Canada, Central Asia, Cuba and United States. During this time, Joseph gained extensive experience managing international operations and taking continued accountability for safety management, all construction operations, engineering, technical service and equipment management.
August 2008
Nevada Green Light
Tercon Construction LLC, based in Sparks Nevada, has received its Nevada State Contractors License.
Big Delivery
AC&T Limited Partnership, an Aboriginal partnership between Fort Chipewyann First Nation of Fort Chipewyann Alberta and Tercon, receive delivery of 4 Cat 777 Haul trucks, 1- 16H Cat Grader and 1 Hitachi 1200 Excavator for work at Syncrude Canada’s Aurora mine site.
May 2008
New Appointments
Tercon Construction LLC, based in Sparks Nevada, would like to announce the appointments of Mr. Jarda Slavik as Vice-President US Operations and Mr. Jerry Helms as Senior Operations Manager.
Mr. Slavik and Mr. Helms have combined earthworks experience exceeding 50 years and will be responsible for the development of our business in Nevada, Montana, Idaho, Arizona and California.
For more information about any of these stories, contact us.