ADF Group Inc. Adds a Series of Major Contracts to its Order Backlog Valued at Total of $70 Million
TERREBONNE, QC, Oct. 15, 2019 /CNW Telbec/ - ADF GROUP INC. ("ADF" or the "Corporation") Ticker symbol: (TSX: DRX), a North American leader in the fabrication of steel superstructures, is pleased to announce the award of a series of major contracts valued at a total of $70 million.
The largest of this series of contracts was won in the public infrastructure sector in the U.S. Midwest and consists in the design and engineering of connections, the fabrication, including the procurement of raw material (steel) and industrial coating, as well as the installation of complex steel structures and heavy steel components, including architecturally exposed structural steel (AESS) elements. This contract will be carried out at ADF's fabrication complex and industrial paint shop, located in Terrebonne, Quebec. Fabrication work is scheduled to start in January 2020 and will extend until the end of 2020.
"Since the beginning of the current fiscal year, being February 1st, 2019, the Corporation added over $300 million worth in new contracts to its order book. With more than 40 years of experience in the fabrication of complex steel structures, we have a solid expertise in large-scale projects. Our teams' expertise and the quality of our production facilities are such that we have mastered all the elements to successfully carry out this major project, which will be another window in which to showcase our know-how across our markets" added Mr. Jean Paschini, Co-Chair of the Board of Directors and Chief Executive Officer of ADF Group Inc.
Excluding the announcement of this new contract, the Corporation's order backlog reached $345.1 million at the close of its second quarter ended July 31, 2019.
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.ADF GROUP INC. : Mr. Jean Paschini, Co-Chair of the Board of Directors and Chief Executive Officer; Mr. Jean-François Boursier, CPA, CA, Chief Financial Officer; Telephone: (450) 965-1911