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HAY RIVER - Two well-known NWT construction companies - one in Hay River and the other in Yellowknife - have merged into one entity.

Effective Feb. 1, Arcan Construction Ltd. of Hay River and Doycon Northern Inc. of Yellowknife amalgamated into the new Arctic Canada Construction Ltd.

"This is a benefit for both of us definitely," said Duncan Cooke, the president and CEO of the new company.

Cooke, who had been owner and president of Arcan Construction, becomes a 50 per cent owner of Arctic Canada Construction.

The other half of the new company is owned by Aaron Doyle, who had owned Doycon Northern. Doyle becomes vice-president and chief operational officer of the new company.

Cooke said the amalgamation was born from a recent successful joint venture between Arcan and Doycon.

The head office of the new company will be located in Yellowknife, but an administrative and finance section of the company will remain in Hay River.

"There will be no noticeable changes here in Hay River," Cooke said.

He will be relocating to Yellowknife this coming summer, but will regularly commute to Hay River.

Along with being related to the formation of the new company, Cooke said his move to Yellowknife is also partly personal since his son is attending high school in the capital city.

Cooke said the merged company will be in a better position to bid on projects in the $10 to $20 million range.

"Arcan always had the financial capacity, but never had the management capacity," he explained.

Cooke added the merger of the two companies is also a response to territorial government concerns about the lack of competition in the bidding process for large projects.