ADF Group announces new contracts in the U.S. worth a total of $101 million
(All amounts are in Canadian dollars, unless otherwise indicated.)
TERREBONNE, QC, Nov. 25, 2020 /CNW Telbec/ – ADF GROUP INC. ("ADF" or the "Corporation") (Ticker symbol: TSX/DRX), a North American leader in the fabrication of steel superstructures, announces the award of two new contracts in the commercial building sector in the U.S.A., worth a total of $101 million.
The scope of the largest of these contracts, in terms of value and tonnage, relates to the design and engineering of connections, fabrication, which also includes industrial coating and the supply of raw material (steel), and the installation of the steel structure of a new building with a commercial vocation in the Northwestern U.S.A. This project is characterized not only by its high tonnage, but also by a fast-track construction schedule. Fabrication is expected to start in the first months of 2021 at ADF’s plant located in Terrebonne, Quebec, and will run until the third quarter of the year 2021.
The other contract won by ADF is located in the Northeastern U.S.A. and consists in, among other things, the supply of raw material (steel) and shop drawings, and the fabrication of the steel structure used in the construction of a new government building. This new contract will take off in January 2021 with the design and engineering of connections and shop drawings. Fabrication is expected to begin later in 2021 and will run until mid-2022.
Mr. Jean Paschini, Co-Chair and CEO, noted that "we are privileged to work again with one of our clients with whom we have completed other major projects in the past. We place great importance on developing long-term relationships with our customers and ensuring that we offered quality products and meet their expectations. We would like to once again highlight the efforts of ADF employees during these difficult times, and the work they do day in and day out to meet the challenges."
The Corporation’s order backlog stood at $314.5 million at the close of the quarter ended July 31, 2020, excluding the new orders announced today.
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.
SOURCE ADF Group Inc.
Source: ADF GROUP INC.: Mr. Jean Paschini, Co-Chair of the Board of Directors and Chief Executive Officerè Mr. Jean-François Boursier, CPA, CA, Chief Financial Officer; Telephone: (450) 965-1911 (#2283), Website: www.adfgroup.com