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Kubasik highlighted the importance of not bidding on fixed-price development programs simultaneously requiring development and production commitments.
TORONTO — Shares of Aecon Group Inc. fell 12 per cent Thursday after the company said it faced challenges with four large fixed-price legacy projects being carried out by joint ventures in which it’s a partner.
"With insolvencies increasing, especially among builders on fixed-price contracts who are walking off jobs and terminating contracts because the cost increases mean it's not worth their while, those contracts are often now 30 per cent higher.