TERREBONNE, QC, June 12, 2019 /CNW Telbec/ - ADF GROUP
INC. ("ADF" or the "Corporation") (TSX: DRX), a North
American leader in the fabrication of steel superstructures, is
pleased to announce the signing of a series of new commercial
agreements in the commercial building sector in the United States, worth a total of
$165.0 million.
The scope of the largest project among this series of new
commercial agreements, in terms of value, involves erecting the
entire steel structure of a new multi-story building in
Southeastern U.S.A., and includes
design-assist services, the design and engineering of connections,
as well as the fabrication and industrial coating. The fabrication
and steel erecting work are scheduled to begin next year.
The other largest project, in terms of value, consists in the
design and engineering of connections, the supply of the material
(steel), the fabrication work, which includes the application of
industrial coating, as well as construction engineering services
and the installation of the steel structure of a new commercial
building on the U.S. West Coast. The fabrication portion of this
new project will begin in the coming weeks.
The Corporation expects to finalize the operational and
technical details of the first agreement in the coming weeks, and
will disclose additional information in a timely manner.
Mr. Jean Paschini,
Co-Chairman of the Board and Chief Executive Officer, stated "Our
current order backlog recorded a solid increase compared with the
same period last year. We are all proud with the work accomplished
to date, and we continue our efforts and initiatives to ensure the
growth of our order backlog."
The Corporation's order backlog stood at $255.4 million at the close of the first quarter
ended April 30, 2019, excluding the
new orders announced today.
All amounts are in Canadian dollars, unless otherwise
indicated.
RESULTS FOR THE FIRST QUARTER ENDED APRIL 30, 2019
The Corporation published the results for its first quarter
ended April 30, 2019, this
morning.
ANNUAL MEETING OF SHAREHOLDERS
ADF Group Inc. will hold its annual meeting of shareholders
today at 11:00 a.m. at the Imperia
Hotel & Suites, located at 2935, de la Pinière Boulevard, in
Terrebonne, Quebec.
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.
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.
SOURCE ADF Group Inc.