Jason Unrau
Northern News Services

Inuvik (Aug 26/05) - Mackenzie Valley Construction now belongs to the Gwich'in Development Corporation, which purchased the remaining 50 per cent of the construction firm from Arctic Tire Ltd. for an undisclosed amount.

Two years ago, the corporation bought a 50 per cent stake in the company.

The recent acquisition caps another successful fiscal year for the corporation, which reported a $1.2 million profit in 2004, the first since it was created by the Gwich'in Tribal Council shortly after the Gwich'in signed a comprehensive land claim in 1992.

"This is one more step forward for the Gwich'in people working towards self-sufficiency," said GTC president Fred Carmichael of the purchase.

"With the experience, value and safety record of the company, we are proud to have them be fully part of the GDC group of companies."

These include the pipeline conglomerate Mackenzie Aboriginal Corp.; energy development interests Aadrii Ltd., Gwich'in Ensign Oilfield Services Ltd. and Mackenzie Valley Aboriginal Pipeline Corp.; significant property holdings; and a 51 per cent share in Gwich'in Helicopters Ltd.

Mackenzie Valley Construction Ltd. is based out of Inuvik and Fort McPherson and is a major heavy equipment and construction company in the Beaufort-Delta, specializing in road and highway construction and maintenance.

The company employs many full-time and seasonal Gwich'in beneficiaries.