PENNSAUKEN, N.J., Oct. 08, 2015 (GLOBE NEWSWIRE) -- RCM Technologies, Inc. (Nasdaq:RCMT), a premier provider of engineering, business and technology solutions, today announced forging a six-year Master Service Agreement (MSA) with Bruce Power. The Agreement will allow RCMT to continue to support Bruce Power’s ongoing divisional needs and future capital projects and asset life extension programs.
RCM Technologies Canada Corp., with its headquarters in Pickering, ON, a wholly owned subsidiary of RCM Technologies, Inc., will be responsible for the execution of major design and engineering contracts during the term of this agreement, opening a new page for a long term business relationship with Bruce Power as the company focuses on maintaining its output for decades to come as outlined in Ontario’s Long-Term Energy Plan. With this agreement in place, RCMT will be able to secure and expand its seasoned engineering work force and continue to provide employment opportunities in the province of Ontario.
Rocco Campanelli, Chairman and CEO of RCM, said, “We are extremely pleased to continue supporting Bruce Power on this major effort. We have been a partner with Bruce Power since its inception in 2001, working on numerous capital and O&M projects. RCMT looks forward to contributing its extensive expertise and capabilities on design engineering, mechanical, electrical, and I&C design throughout this engagement.”
“We view RCMT as a key vendor and value the quality of work and the partnership that has been forged over the years,” said Duncan Hawthorne, Bruce Power’s President and CEO. “This long-term agreement between our companies recognizes we are fully committed to deliver safe, low-cost reliable power to Ontario families and businesses in accordance with the province’s Long Term Energy Plan."
Joe Dickson, Member of Provincial Parliament from Ajax-Pickering, said, “I am quite pleased to hear of the partnership between RCM Technologies, Inc., and Bruce Power strengthened with a new six-year Master Service Agreement. RCM Technologies is a first class provider of business and technology solutions. I am always happy to see businesses thrive in the Durham Region, and this contract will allow Pickering based RCM Technologies to continue to provide employment opportunities.”
David Ryan, Mayor of Pickering, Ontario said, “I am thrilled that RCM Technologies, Inc. has been successful in securing a six-year Master Service Agreement with Bruce Power. This renewed partnership is a reflection of RCM’s industry expertise and reputation for outstanding quality. I am proud that it will continue to be a key employer and business leader in Pickering for years to come.”
About RCM
RCM Technologies Canada Corp. is a wholly owned subsidiary of RCM Technologies, Inc. (Nasdaq:RCMT). RCMT is a premier provider of business and technology solutions designed to enhance and maximize the operational performance of its customers through the adaptation and deployment of advanced engineering services and information technology. RCMT is an innovative leader in the design, development and delivery of these solutions to commercial and government sectors. RCMT is also a provider of specialty healthcare services to major healthcare institutions and educational facilities. RCMT’s offices are located in major metropolitan centers throughout North America. Additional information can be found at www.rcmt.com
About Bruce Power
Bruce Power operates the world’s largest operating nuclear generating facility and is the source of roughly 30% of Ontario’s electricity. The company’s site in Tiverton, Ontario is home to eight CANDU reactors, each one capable of generating enough low-cost, reliable, safe and clean electricity to meet the annual needs of a city the size of Hamilton. Formed in 2001, Bruce Power is an all Canadian partnership among Borealis Infrastructure Management (a division of the Ontario Municipal Employees Retirement System), TransCanada, the Power Workers’ Union and the Society of Energy Professionals. A majority of Bruce Power’s employees are also owners in the business.
The Statements contained in this release that are not purely historical are forward-looking statements within the Private Securities Litigation Reform Act of 1995 and are subject to various risks, uncertainties and other factors that could cause the Company's actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These statements often include words such as “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “project,” “intend,” “believe,” “plan,” “seek,” “could,” “can,” “should” or similar expressions. In addition, statements that are not historical should also be considered forward-looking statements. These statements are based on assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate in these circumstances. Forward-looking statements include, but are not limited to, those relating to work that the Company may perform in the future under the MSA, demand for the Company’s services, expectations regarding our future revenues and other financial results, our pipeline and potential project wins and our expectations for growth in our business. Such statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors, which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. Risk, uncertainties and other factors may emerge from time to time that could cause the Company’s actual results to differ from those indicated by the forward-looking statements. Investors are directed to consider such risks, uncertainties and other factors described in documents filed by the Company with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. The Company assumes no obligation (and expressly disclaims any such obligation) to update any forward-looking statements contained in this release as a result of new information or future events or developments, except as may be required by law.