For Immediate Release
|Title:||Parkland provides update on Burnaby refinery turnaround|
CaribPR Wire, CALGARY, Alberta, April 06, 2020: Parkland Fuel Corporation (”Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) announced today that we are nearing completion of the required work for the 2020 Burnaby refinery turnaround and have begun the startup sequence for the facility.
We expect an approximate two-week process to reach full operational capability when accounting for additional coronavirus (“COVID-19”) preventative safety measures. COVID-19 has required Parkland to change processes and procedures in response to guidance from Provincial health authorities. This has led to a decrease in the number of staff on site and lower productivity.
“I would like to thank the Parkland team and contractors for all their hard work during this maintenance event,” commented Ryan Krogmeier, Senior Vice President, Supply, Trading, Refining and HSE. “We are proud of the outstanding safety results to date and the effort exhibited by everyone involved.”
Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”). When used in this news release the words “expect”, “will”, “continue” and similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things: the expected completion of the required work for the Burnaby refinery turnaround, the beginning of the startup sequence and the process to reach full operational capability.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These forward-looking statements speak only as of the date of this news release. Parkland does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, general economic, market and business conditions and the extent and duration COVID-19 pandemic and its effects on such economic, market and business conditions; the effect on demand for Parkland’s products as a result of the COVID-19 pandemic; the ability of suppliers and other counterparties to meet commitments; actions by governmental authorities and other regulators including but not limited to increases in taxes or restricted access to markets; changes and developments in environmental and other regulations; and other factors, many of which are beyond the control of Parkland. See also the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in Parkland’s Annual Information Form dated March 30, 2020 and in “Forward-Looking Information” and “Risk Factors” in the 2019 annual management’s discussion and analysis dated March 5, 2020 (the “Q4 2019 MD&A”), which are filed on SEDAR and available on the Parkland website at www.parkland.ca. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Parkland is an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: Retail, Commercial and Wholesale. Parkland optimizes its fuel supply across these three channels by operating and leveraging a growing portfolio of supply relationships and storage infrastructure. Parkland provides trusted and locally relevant fuel brands and convenience store offerings in the communities it serves.
Parkland creates value for shareholders by focusing on its proven strategy of growing organically, realizing a supply advantage and acquiring prudently and integrating successfully. At the core of our strategy are our people, as well as our values of safety, integrity, community and respect, which are embraced across our organization.