ADF Group announces the award of new contracts worth more than $43 million
TERREBONNE, QC, March 30, 2016 /CNW Telbec/ – ADF GROUP INC. (« ADF » or the « Corporation ») (TSX: DRX), North American leader in the fabrication of steel superstructures, announces having concluded, in the past few days, a series of commercial agreements, totalling in excess of $43 million.
These new orders were mostly awarded in Quebec and in the U.S. East Coast, and are part of different transport infrastructure projects, including the new Champlain Bridge project in Montreal, and various new construction projects for commercial and industrial buildings.
The new contracts mainly consist in the fabrication work, which includes the shop drawings and the supply of the raw material (steel), as well as the installation of various steel structures and heavy steel built-up components. Moreover, a number of these contracts will require the application of special industrial coatings.
The work on these new contracts, which will for the most part be fabricated at ADF's Terrebonne plant, will extend until July 2017.
Mr. Jean Paschini, Co-Chairman of the Board and Chief Executive Officer, points out that, "the award of these new orders attests to ADF's determination to continue increasing its backlog, and by doing so, making sure we continue enhancing the effectiveness of our operations. In addition, our newly commissioned paint shop in Terrebonne will also contribute to certain of these new contracts."
The Corporation will disclose its results for the fiscal year ended January 31, 2016, on April 14, 2016 before markets open.
About ADF Group Inc.
ADF Group Inc. is a North American leader in the design and engineering of connections, fabrication, including industrial coatings, and installation of complex steel structures, heavy steel built-ups, as well as in miscellaneous and architectural metals for the non residential construction industry. ADF Group Inc. is one of the few players in the industry capable of handling highly technically complex mega projects on fast-track schedules in the commercial, institutional, industrial and public sectors. The Corporation operates two fabrication plants and two paint shops, in Canada and in the United States.
This press release contains forward-looking statements reflecting ADF objectives and expectations. These statements are identified by the use of verbs such as "expect" as well as by the use of future or conditional tenses. By their very nature these types of statements involve risks and uncertainty. Consequently, reality may differ from ADF's expectations.
All amounts are in Canadian dollars, unless otherwise indicated.
SOURCE ADF Group Inc
Jean Paschini, Co-Chairman of the Board of Directors and Chief Executive Officer; Jean-François Boursier, CPA, CA, Chief Financial Officer, Telephone: (450) 965-1911 / 1 (800) 263-7560; Web Site: www.adfgroup.com