Brascan Subsidiary Wins Government Relocation Contract.Business Editors OTTAWA--(BUSINESS WIRE)--Dec. 19, 2002 Royal LePage Relocation Services (RLRS), a division of Brascan Corporation's (NYSE NYSE See: New York Stock Exchange :BNN BNN Boston Neighborhood Network BNN Boundary Network Node (IBM) BNN Back-Propagation Neural Network BNN Biological Neural Network BNN Bart's Neverending Network (public-service TV network in The Netherlands) ) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BNN.A) Business Services group today announced that it has been awarded a five-year contract by The Government of Canada The Government of Canada is the federal government of Canada. The powers and structure of the federal government are set out in the Constitution of Canada. In modern Canadian use, the term "government" (or "federal government") refers broadly to the cabinet of the day and to provide relocation assistance to public servants as well as members of the Canadian Forces (CF) and the Royal Canadian Mounted Police Royal Canadian Mounted Police, constabulary organized (1873) as the Northwest Mounted Police to bring law and order to the Canadian west. In 1920 the name was changed to the present title. (RCMP). The contract, effective April 1, 2003, will create 76 new jobs and sustain another 235 positions across Canada. The contract, known as the Integrated Relocation Program (IRP See Interest rate parity line. ), will provide government departments with greater flexibility when relocating federal employees to new work locations by providing them with a personalized and flexible approach to relocation. The value of the contract is estimated to total over $200 million annually over five years, with the vast majority of this amount returned to the communities in which RLRS operates across Canada through services it contracts with appraisers, real estate agents, lawyers, property managers, etc. Brascan's estimated fee revenues related to this contract ranges from $25 to $30 million annually, depending on the volume of employee moves. Since 1995, RLRS has been a primary relocation services provider to the Government of Canada and is recognized as an industry leader in employee relocation and move management. "Being awarded this contract is gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. for both our company and our government services team who, over the past eight years, have consistently met and exceeded the contract requirements and regularly implemented service enhancements and innovations. Our team is dedicated to continuing its role in fulfilling the needs of the government and its transferring employees," said Jim Lockington, president, RLRS. Lockington added: "We look forward to the challenges ahead and to continuing our relationship with the Government of Canada, the CF and the RCMP. We are committed to improving the relocation transition and experience for those who serve our country." About Royal LePage Relocation Services Royal LePage Relocation Services (RLRS) is Canada's oldest and largest relocation services company. As Canada's relocation solutions leader, RLRS has the depth, scope and scale to provide a full array of services to its government and corporate clients. With more than 450 experienced relocation professionals across the country, international alliances, technical resources, financial resources and an unparalleled network of relocation supplier-partners, RLRS provides its clients with economies of scale and valuable employee mobility expertise. About Brascan Corporation Brascan Corporation is a North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. based company which owns and manages assets which generate sustainable cash flows. Current operations are largely in the real estate, power generation and financial sectors. Total assets exceed $23 billion and include 55 premier commercial properties and 38 power generating facilities. In addition, Brascan holds investments in the resource sector. Brascan's publicly traded securities are listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Toronto stock exchanges. |
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