Suncor Energy spends $1 billion with Aboriginal business partners
Calgary, Alberta (April 8, 2009) — Suncor Energy Inc. today recognized the achievement of a
$1 billion goods and services spending milestone with Aboriginal business partners in the Wood Buffalo region.
Suncor has been collecting data since 1992 on its spending with Aboriginal companies in the Regional Municipality of Wood Buffalo near its oil sands operations in northeastern Alberta. With Aboriginal business-related spending of $220 million in 2008, the company surpassed a $1 billion goods and services spending milestone with these companies.
Aboriginal owned and operated businesses have played a vital role in helping Suncor develop the Athabasca oil sands resource. The businesses range in scope and scale and include fuel distribution, maintenance, reclamation, heavy equipment operation, tire shredding, manufacturing, and hotel and airline services.
"We're particularly proud of this milestone and appreciate our partner companies' efforts in helping us make it a reality," said Rick George, president and chief executive officer. "We've worked hard to build strong mutually beneficial relationships with Aboriginal communities near our operations. By tapping into the regional skills and experience of these communities, we're making progress on a number of shared economic, social and environmental goals."
Suncor's successful partnership with Aboriginal companies is reflected in its relationship with the Fort McKay Group of Companies. "Because of the strong business relationship we've developed with Suncor, I believe we'll continue to expand with future endeavors that will benefit Suncor, the community of Fort McKay and the Fort McKay Group of Companies." explains Frederick McDonald, CEO of Fort McKay Group of Companies.
Another partnership example is Aqua Industrial Ltd. Gerry Gionet, President & CEO, is a local Métis entrepreneur who has built successful business operations in
Suncor's partnership with Aboriginal companies will also be recognized at an upcoming Northeastern Alberta Aboriginal Business Association event in May.
This news release contains forward-looking statements identified by the words "develop", "tapping",
"progress", "goals", "continue", "expand", "future" and similar expressions that address expectations or projections about the future. Forward-looking statements are based on Suncor's current goals, expectations, estimates, projections and assumptions made in light of its experiences and the risks, uncertainties and other factors related to its business. Assumptions used to develop our outlook are based on year-to-date performance and management's best estimates for the remainder of the year. Readers are cautioned that actual results could differ materially from those expressed or implied as a result of changes to Suncor's plans and the impact of events, risks and uncertainties discussed in Suncor's current annual information form/form 40-F, annual and quarterly reports to shareholders and other documents filed with Canadian securities commissions at www.sedar.comand the United States Securities and Exchange Commission (SEC) at www.sec.gov.
Suncor Energy Inc. is an integrated energy company headquartered in Calgary,
Suncor Energy (U.S.A.) Inc. is an authorized licensee of the Phillips 66® brand and marks in the state of Colorado. Sunoco in Canada is separate and unrelated to Sunoco in the United States, which is owned by Sunoco, Inc. of
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