TORONTO — The parent company of a construction firm overseeing an overhaul of the Kakabeka Falls hydro station says it's positioned for growth, once economic markets become less uncertain.
In a performance update this week, Bird Construction indicated net income of nearly $30 million for the first half of 2025, down slightly from $31.4 million for the same period in 2024.
This year's second business quarter "was impacted by temporary project delays, as our clients adapted to rapidly changing market conditions," the company said in a news release.
"While Bird's third quarter is expected to be impacted by similar delays, the company is well positioned to capitalize on our record $4.6 billion (work backlog) once near-term market uncertainty resolves," Bird president Teri McKibben said in the release.
Meanwhile, the two-year Kakabeka Falls station upgrade already underway continues, overseen by Stuart Olson GDB Joint Venture, which is a subsidiary of Bird Construction. Bird is based in Mississauga near Toronto.
At the end of 2023, Bird announced it had secured five new contracts — including Ontario Power Generation's Kakabeka Falls power station overhaul — with a combined value of more than $530 million. It didn't break down the specific amount for the Kakabeka Falls project.
Earlier this year, the Municipality of Oliver Paipoonge granted Stuart Olson a temporary exemption to the local noise bylaw so that construction could take place around the clock.
Oliver Paipoonge Mayor Lucy Kloosterhuis said council was assured only "quiet work" would be conducted in the wee hours.
In its news release, Bird Construction said it was well-fixed for cash and cash equivalents, with $142.6 million as of the end of June. As well, the company reported $231.7 million of available credit.
Bird is no stranger to the Thunder Bay district. Three years ago, it finished expansion projects at the Thunder Bay Correctional Centre and the Kenora jail to ease over-crowding at both facilities.
Construction of a new $1.2-billion Thunder Bay jail adjacent to the correctional centre on Highway 61 is being overseen by EllisDon, also of Mississauga. The new jail is to be ready by the fall of 2026.
The Chronicle-Journal / Local Journalism Initiative
