Aecon Group Inc. (TSE:ARE) has released an update.
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Aecon Group Inc. has reached a global settlement over a dispute regarding the Coastal GasLink Pipeline Project, aiming to avoid the costs and uncertainties of arbitration without admitting liability. The settlement will lead to Aecon taking a significant one-time charge in its Q2 2024 financials, alongside additional anticipated charges from three other large fixed price legacy projects. The company looks forward to moving past these complex legacy projects as it nears the completion of its remaining obligations.
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