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NAEP completes piling business sale

Keywords: Tags  NAEP, North American Energy Partners, piling business, Keller Group, Thorsten Schier

NEW YORK — North American Energy Partners Inc. has completed the Canadian $210-million ($201.6-million) sale of its piling business to London-based Keller Group Plc.

The Edmonton, Alberta-based company will use the proceeds to pay down debt, it said.

"We are pleased to have concluded this transaction and look forward to moving ahead on a stronger financial footing as a focused heavy construction and mining contractor," Martin Ferron, the company’s president and chief executive officer, said in a statement.

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