ADF Group Inc. announces the award of new contracts in the United States totalling $42 million
TERREBONNE, QC, Oct. 31, 2016 /CNW Telbec/ – ADF GROUP INC. (« ADF » or the « Corporation ») (ticker symbol: DRX/TSX), a North American leader in the fabrication of steel superstructures, announces the award of new major contracts in the transport infrastructure sector in the United States, totalling $42 million.
The largest of the contracts, awarded in the US Northeast, calls for the fabrication of steel components and also includes the supply of the shop drawings and the raw material (steel) and the delivery of the finished products to the construction site. The project is scheduled to start in the coming weeks and will extend until the end of ADF Group’s fiscal year ending January 31, 2018.
The second contract consists in the fabrication of complex steel components for a project in the US Midwest. This contract is scheduled to start in the next few days and will extend until the end of ADF’s fiscal year ending January 31, 2017.
These new orders will be carried out at ADF’s Terrebonne fabrication plant.
Mr. Jean Paschini, Co-Chairman of the Board of Directors and Chief Executive Officer, indicates that "the announcement of these new contracts, which takes place just weeks after our announcement of $133 million in new contracts, brings our order backlog above the $200 million mark. We are pleased to see that our backlog of firm orders is on the rise, which guarantees a greater use of our assets. We are well determined to continue our efforts in that direction, and achieve our growth objectives".
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