TERREBONNE, QC, March 27, 2018 /CNW Telbec/ - ADF GROUP INC. ("ADF" or the "Corporation") (TSX: DRX) had to proceed, over the past days, to the temporary layoff of fifty employees at its Terrebonne facilities. This temporary measure occurs as a result of three unsuccessful bids submitted by the Corporation for major projects in the United States.

The Corporation indicates that the clients rendered their decisions while discussions regarding new US tariffs on imported steel and aluminum were just starting, and therefore before the official announcement by the US authorities that Canada is exempted from these trade tariffs.

The Corporation is currently working on several bids for, among others, large-scale projects in the United States.

This adjustment in staff number was planned on the basis of the Corporation's current business level, but was also established taking into account a possible increase in volume in the event of new contract awards. Management points out that it will be able to progressively recall to work employees targeted by this temporary layoff as new contracts come in, taking into account the usual delay between the signing of a contract and the start of production in the plant. There are no additional costs related to these layoffs since these are temporary.

About ADF Group Inc.

ADF Group Inc. is a North American leader in the design and engineering of connections, fabrication, including the application of industrial coatings, and installation of complex steel structures, heavy steel built-ups, as well as in miscellaneous and architectural metals for the non-residential infrastructure sector. 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, and a Construction Division in the United States, which specializes in the installation of steel structures and other related products.

Forward-Looking Information

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.

Website: www.adfgroup.com

 

SOURCE ADF Group Inc.

Copyright 2018 Canada NewsWire

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