North American design firm Stantec Inc. (STN,STN.TO) Thursday signed a letter of intent to acquire Calgary-based Cimarron Engineering Ltd. The financial terms of the proposed deal were not disclosed.
Cimarron Engineering is a 290-person engineering consulting company specializing in the development, design, installation, and integrity maintenance of oil and gas pipeline systems and station facilities.
Cimarron's current projects include TransCanada's Keystone Pipeline between Canada and the United States, and Enbridge's Woodland Pipeline in northern Alberta.
Cimarron operates offices in Calgary and Edmonton, which will join Stantec's existing Stantec's oil and gas and power groups in those cities.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.