(All amounts are in Canadian dollars unless
otherwise indicated.)
TERREBONNE,
QC, May 30, 2023 /CNW/ - The management of
ADF INC GROUP. ("ADF" or the "Corporation") (TSX: DRX), a
North American leader in the fabrication of steel superstructures,
announces the signing of a series of new orders worth a total of
$142 million in the United
States, including a major contract for the first phase of a
construction project in the pharmaceutical industry in the
Midwestern region.
This major new contract, which is the largest
contract in this series of new orders, in terms of value, consists
in the design and engineering of connections, fabrication,
including the supply of steel and industrial coating, as well as
the installation of the steel structure of a new large industrial
building.
This project requires a
high-volume production. Work will begin in the coming weeks at
ADF's Terrebonne plant and will
extend over a period of 12 months.
Mr. Jean
Paschini, Chairman of the Board of Directors and Chief
Executive Officer, pointed out that "this project will be carried
out largely using our new robot-assisted fabrication line, and all
work related to the fabrication and assembly of the complex steel
components part of this building's construction are entrusted to
the know-how of our production teams. Our recent investments in our
infrastructure and in new technologies give us the ability to
effectively meet this project's requirements and our client's
ambitious targets."
Mr. Paschini added that the Corporation has
already begun negotiations with its client for the second
phase of this construction project.
The Corporation's order backlog reached
$376.5 million as at January 31, 2023.
Conference Call with
Investors
A conference call with investors is scheduled for
Wednesday, June 7, 2023, at
10 a.m. (Montreal time) to discuss the results of
Corporation's first quarter ended April 30,
2023.
To join the conference call without operator
assistance, you can register with your phone number on
https://emportal.ink/40D7CuB to receive an instant automatic
reminder. You can also join the conference call with operator
assistance by dialing 1 (888) 390-0620 a few minutes prior
to the conference call scheduled start time.
A replay of the conference call will be available
from 1:00 p.m, Wednesday, June 7,
2023, until midnight, Wednesday, June
14, 2023, by dialing 1 (888) 259-6562; followed by
the access code 020433 #.
The conference call (audio) will also be
available at www.adfgroup.com. Members of the media are invited to
join in listening mode.
Annual Meeting of Shareholders for
the Fiscal Year Ended January 31,
2023
ADF Group Inc. is holding its Annual Meeting of
Shareholders on June 7, 2023, at
11:00 a.m. (EST), which will also be
available by way of a webcast available at
https://app.webinar.net/9K2PYLZrLVm.
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's
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.