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BusinessWire, Tuesday, August 12, 1997 at 13:16
MONTREAL--(BUSINESS WIRE)--Aug. 12, 1997--Dominion Bridge
Corporation (NASDAQ/ NMS: DBCO; VSE: DMO.U), ("DBC") today announced
the appointment of Mr. Andre Marsan, CA as Chief Financial Officer
for its North American engineering, construction business. This
group unites under one delivery capability Dominion Bridge, Inc.,
("DBI"), Steen Contractors Ltd. ("STEEN"), and the Pipeline
Division.
Mr. Marsan joined DBC Monday, August 11, 1997. In his new
capacity as Chief Financial Officer, he will be responsible for all
financial and accounting matters in the recently integrated
construction and engineering operations in North America.
Mr. Marsan brings to DBC a wealth of industry experience and
financial expertise in the engineering, construction and
manufacturing businesses. He was previously employed as a CFO in the
industry by a major North American competitor to DBI. In his past
employments, he has had the opportunity to manage international
large-scale budget operations and was also responsible for the
implementation of state-of-the-art accounting and information systems
in those operations.
Mr. Marsan is a CA and a member of the Canadian Institute of
Chartered Accountants and started his career as an auditor. He is
well versed in audit practices using US as well as CDN GAAP and his
accounting and industry experience has spanned Europe and North
America.
DBC Chairman Michel L. Marengere expressed the Board's pleasure
in the selection of Mr. Marsan as "an excellent choice of industry
expertise in an area where we project significant growth." President
and Chief Operating Officer Nicolas Matossian stated that Dominion
Bridge Inc., Steen Contractors Limited and the Pipeline Division will
operate as a single three divisional unit in North America, patterned
after the highly successful model for McConnell Dowell Corporation.
One of Mr. Marsan's major priorities and responsibility will be the
integration and update of financial and information systems for the
overall unit."
Dominion Bridge was established in 1879. The company is active
in the international engineering and infrastructure markets. It
manages projects and operates facilities in North and South America,
Europe and the Asia Pacific. The company, together with its
subsidiaries, employs more than 6,500 people, with this year's
anticipated revenues of over US $600 million. Consolidated backlog
is approximately US $600 million.
Dominion Bridge Corporation's subsidiaries are Dominion Bridge,
Inc., Steen Becker, Inc. and Davie Industries. Its Australia
subsidiary, McConnell Dowell Corporation, is a major Asia Pacific
engineering firm.
Dominion Bridge Corp. said yesterday its Asia Pacific subsidiary
McConnell Dowell Corp. of Melbourne, has received contracts worth
more than A$123 million ($125.4 million).
The contracts consist of an A$83-million project for the
engineering, design, procurement and construction of a central
systems upgrade contract at Aramco's refinery in Riyadh, Saudi
Arabia.
Additional building, civil, mechanical and pipeline contracts with
a combined value of more than A$40 million have also been secured
in Australia, Indonesia, Malaysia, Marshall Islands and Singapore
within the last month.
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