Under the direction of The Labrador Inuit Capital Strategy Trust (LICST), the Nunatsiavut Group of Companies announced that Nunatsiavut Construction Inc. (NCI) will phase out operations after its current contract obligations are met. It is anticipated that it may take close to a year to conclude all operations. This is a strategic decision involving NCI only and does not impact NGC’s other business lines or its partnerships.
NCI’s employees have been informed of the decision to phase out operations after current contracts are completed, and assistance is being provided by the Human Resources Department of the Nunatsiavut Group of Companies.
“Every support will be provided to NCI’s employees,” stated NGC President and CEO Garry Best. “I want to thank NCI’s management and our employees for building significant infrastructure in Nunatsiavut over many years. This decision does not impact NGC’s other business interests, including our partnerships.”
NGC will develop a business plan that responds to the direction of the LICST, including ensuring that all of NCI’s contractual obligations are met; that reclamation and remedial work is completed; that maximum value is received for NCI’s assets; and that other related matters are properly concluded.
For further information, contact:
Garry Best
President and CEO, Nunatsiavut Group of Companies
(709) 896-8505