May 24, 2018
FOR IMMEDIATE RELEASE
OTTAWA – Deputy Shadow Minister for Finance Tom Kmiec welcomed news of the federal government blocking the proposed $1.5-billion takeover of Aecon Group Inc. by Chinese state-owned firm CCCC International Holding Ltd. (CCCI) over national security concerns.
Mr. Kmiec stated: “I am pleased the federal government cancelled the Aecon takeover by a China state-owned company. After repeatedly pressing the federal government on the issue I am happy to see that the national security concerns I raised were considered leading to this correct decision.”
The Minister of Innovation, Science and Economic Development, Navdeep Bains would not reveal what specific threats to Canada's national security surfaced during the national security review of the deal. Aecon has played a role in some of Canada's most recognized projects, including the CN Tower, St. Lawrence Seaway, Vancouver SkyTrain and the Montreal airport.