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in si de ha lto n. co m O ak vi lle B ea ve r | T hu rs da y, A ug us t 11 ,2 02 2 | 2 25+ Years Experience 100% Canadian Made Cabinetry Quality Craftsmanship • Custom Made Kitchen & Bathroom Cabinetry • Closet Systems • Entertainment Units • Basement Renovations • Full Renovations & More! Visit Our 6,000 sq.ft. Design Centre: Units 2-3, 333 Wyecroft Rd.,Oakville 905.844.3332 | www.aromakitchens.ca • info@aromakitchens.ca Create Your Dream Look Oakville Enterprises Corporation (OEC), and therefore the Town of Oak- ville, is entering into a strategic partnership with the energy infrastructure company Enbridge Inc. The town, which is OEC's majority sharehold- er, announced Wednesday, Aug. 3 that Enbridge would be investing into OEC and becoming a mi- nority shareholder. Enbridge is using one of its subsidiaries, Enbridge Sustainable Energy Solu- tions Inc., to hold the shares and serve as a sig- natory to the agreements. Town staff said the amounts secured from En- bridge will be reinvested in OEC. They noted the benefits of this partnership are many, including OEC hav- ing the ability to grow and diversify its businesses, thereby driving higher growth and dividend streams to its sharehold- ers. It was also pointed out that a large utility partner such as Enbridge provides strong partnerships and ready capital for munici- pal infrastructure such as district energy and geoex- change facilities. "We on council are hap- py to welcome Enbridge as a partner in this next chapter of OEC's growth," said Oakville Mayor Rob Burton. "Enbridge's investment takes OEC to its next stage of potential faster than possible without the in- vestment. Our alliance will be a big boost to coun- cil's 16-year commitment to develop new, non-tax revenues for residents' new facility and infra- structure expectations without putting pressure on property taxes." OEC President and CEO Rob Lister said OEC is excited to enter into this partnership with En- bridge. "We have a strong histo- ry of working with En- bridge and share common values as well as a custom- er-first approach to every- thing we do," said Lister. "Enbridge's North American reach makes them an ideal partner as we continue to expand our operations." OEC, which has more than 2,000 employees, serves the infrastructure, energy, renewable genera- tion, electricity and gas distribution sectors. Enbridge's core busi- nesses include Liquids Pipelines, which trans- ports approximately 25 per cent of the crude oil produced in North Ameri- ca; Gas Transmission and Midstream, which trans- ports approximately 20 per cent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approxi- mately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which generates approximately 1,766 MW of net renewable power in North America and Europe. "OEC is a good strategic fit within Enbridge's di- versified energy portfolio and will be a great addi- tion as we continue to evolve our business mod- el," said Michele Harra- dence, senior vice-presi- dent and president of Gas Distribution and Storage, Enbridge Inc. "We look forward to partnering with OEC to unlock innovative energy solutions as we advance the transition to a sustain- able energy future." OAKVILLE ENTERPRISES CORPORATION, THE TOWN AND ENBRIDGE ENTER PARTNERSHIP The town, which is OEC's majority shareholder, announced Wednesday, Aug. 3 that Enbridge would be investing into OEC and becoming a minority shareholder. Metro Creative photo NEWS