Brothers and Sisters
I have received notice from Dean Seidler VP of operations for Insulmax Construction Services that Altair Contracting is completing final contracts and outstanding payables before closing the doors by September 2017.
It is always a sad day when a union contractor is shut down by their parent corporation, however, the loss of a contractor such as Altair (previously AC and S) who have provided hundreds of members with decades of union employment is a major impact to our union and the mechanical insulation industry in Alberta.
With the economic down turn throughout Canada the competitiveness of our contractors is coming under scrutiny from their parent groups and shareholders, with the final decision to keep the doors open coming down to economics. Local 110 has only a few Alberta based contractors that are not owned by foreign multinational companies. As such Altair maybe the first but most likely will not be the last to close their doors due to the downturn in oil prices.
Please see below for the official announcement
ICG Contracting Canada Ltd.
Notice of Suspension of Certain Contracting Activities in Western Canada
Irex Corporation and ICG Contracting Canada LTD. announce that they have suspended bidding activities and have commenced an orderly closure of several Irex Contracting Group businesses in Western Canada. This includes Altair Contracting ULC (Altair) and the Industrial Division of Enertech Specialty Contracting LTD. (Enertech Industrial). Insulmax Construction Services LTD (Insulmax) will continue to operate as a support services company, broadening its scope to include estimating services to various Irex companies in the United States. Enertech’s Commercial Division (Enertech Commercial) will continue to operate pending a more complete review of its strategic opportunities.
Throughout this period of transition, staff will remain on hand at both Altair and Enertech Industrial to ensure that all existing customer and supplier commitments are honored in full. Departing employees of any affected business will be provided transitional assistance and support. Continuing employees will be provided additional training and resources, as appropriate.
Regrettably, the severe and potentially long-lasting market decline in the Canadian oil sands area has made these changes necessary. Fortunately, we see continuing opportunity for Enertech Commercial and Insulmax; and we will remain alert for other opportunities for Altair and Enertech Industrial to renew operations in the months and years to come.
Should there be any questions about this restructuring or anything else, please contact Lionel Williams, President, ICG Contracting Canada LTD