North American Construction presses brake pedal

North American Construction Group is taking a “strategic” approach to bidding on work in a robust pipeline as it juggles injecting capital into the right growth options, shareholder returns and looking after its balance sheet.

CEO Barry Palmer told analysts on NACG’s latest financial results call the Canadian-based company was intent on “scaling into a tier-one contractor in Australia” on the back of debt-funded acquisitions and what he saw as a mass of contract mining opportunities that fit the company’s capital returns criteria.