CALGARY, ALBERTA--(Marketwire - Jan. 6, 2012) - TransCanada Corporation's (TSX:TRP) (NYSE:TRP) (TransCanada) President and CEO Russ Girling, alongside Canadian Prime Minister Stephen Harper, today announced a $1 million commitment over five years from TransCanada to acknowledge and help support Canadian veterans. The money will be used by the Helmets to Hardhats program to assist veterans in finding work as they return to civilian life. TransCanada is supporting the program along with Veterans Affairs Canada and Canada's Building Trades Unions.
"Our partnership with Helmets to Hardhats is a logical extension of our relationship with Canada's Building Trades Unions to build our country and its infrastructure. We are proudly supporting men and women who have served their country with bravery and honour. They deserve our gratitude, our dedication and our support," said Russ Girling, TransCanada's President and Chief Executive Officer. "The opportunities offered through this initiative will assist veterans in their return to civilian life while bringing skilled and dedicated employees into our workforce."
"Both TransCanada and Prime Minister Harper are showing leadership with Canada's Veterans with this announcement," said Robert Blakely, Director of Canadian Affairs for the Canadian Building Trades. "Canada's construction industry is the key beneficiary of economic activity in the energy industry and Helmets to Hardhats will help ensure skilled trade labour contributes to these important engines of our economy."
TransCanada has been working in tandem with Canada's Building Trades Unions for decades to build energy infrastructure in our country. As one of North America's largest energy infrastructure companies, our company knows that the trades are a critical component of our business.
"TransCanada is currently completing the remaining half of a $22 billion capital program and with that comes a need for a trained, specialized and competent workforce," added Girling. "The Helmets to Hardhats program is part of that important network and will have a long-term impact here in Canada. It will impact our economy and perhaps more importantly, the families that have so selflessly committed to ensuring freedom for Canadians."
Veterans will be able to access career or apprenticeship information either by phone or through a dedicated website that is expected to be launched in the early part of 2012. Veterans and reservists will have access to these apprenticeship programs and related training on a priority basis through participating construction trade organizations and contractors. The program will also provide opportunities in administration, engineering, human resources and other skills required in the construction industry. The Canadian Forces transitions about 5,200 members to civilian life every year.
TransCanada's role in Helmets to Hardhats is consistent with our values-driven approach to business and our aim to build healthy, safe and vibrant communities where we live and work. Whether it's providing financial support, sharing resources or volunteering, our company is committed to playing a role in building better communities.
With more than 60 years experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and oil pipelines, power generation and gas storage facilities. TransCanada's network of wholly owned natural gas pipelines extends more than 57,000 kilometres (35,500 miles), tapping into virtually all major gas supply basins in North America. TransCanada is one of the continent's largest providers of gas storage and related services with approximately 380 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 10,800 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest oil delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. For more information visit: www.transcanada.com or check us out on Twitter @TransCanada.
This news release may contain certain information that is forward looking and is subject to important risks and uncertainties. The words "anticipate," "expect," "believe," "may," "should," "estimate," "project," "outlook," "forecast" or other similar words are used to identify such forward-looking information. Forward-looking statements in this document are intended to provide TransCanada securityholders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future financial and operations plans and outlook. Forward-looking statements in this document may include, among others, statements regarding the anticipated business prospects, projects and financial performance of TransCanada and its subsidiaries, expectations or projections about the future, and strategies and goals for growth and expansion. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among others, the ability of TransCanada to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the operating performance of TransCanada's pipeline and energy assets, the availability and price of energy commodities, capacity payments, regulatory processes and decisions, changes in environmental and other laws and regulations, competitive factors in the pipeline and energy sectors, construction and completion of capital projects, labour, equipment and material costs, access to capital markets, interest and currency exchange rates, technological developments and economic conditions in North America. By its nature, forward looking information is subject to various risks and uncertainties, which could cause TransCanada's actual results and experience to differ materially from the anticipated results or expectations expressed. Additional information on these and other factors is available in the reports filed by TransCanada with Canadian securities regulators and with the U.S. Securities and Exchange Commission (SEC). Readers are cautioned to not place undue reliance on this forward looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update publicly or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by law.