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.