BURNABY, B.C. – Procon Holdings
has closed a transaction with Promec Mining Contractor. The acquired business is to be renamed Procon Canada East Ltd./ Procon Est du Canada Ltée)
(PCE), headquartered in Quebec. Procon Holdings and its shareholders will become a 70% shareholder of PCE.
All shareholders of PCE and the sole shareholder of Procon fully support this transaction.
"Procon's acquisition of PCE provides the Procon Group with immediate access to the robust Quebec mining market, an experienced mining contracting team based in Val d'Or, and a base of operations from which we will better serve our customers in Ontario and eastern Canada. The addition of PCE firmly establishes the Procon Group as a pan-Canadian mining contractor and will provide a solid foundation for future growth into international markets," stated John McVey, CEO of the Procon Group.
John Caldbick has been named president of PCE and will be based in Val-d'Or.
Further details of the transaction are available on the company's web site www.ProconGroup.com.