Business
Contract worth $77 million for ADF Group in North America's public infrastructure sector
------------------------------------------------------------------------- - Corporation's order b...
About this update from Adf Group Inc.
[{"type":"text","content":"\n\n\n\n-------------------------------------------------------------------------\n- Corporation's order backlog increases to close to $190 million as at\n July 13, 2009, excluding the revenues for the current quarter ending\n July 31, 2009.\n\n- Creation of about fifty additional jobs at its Terrebonne plant.\n-------------------------------------------------------------------------\n\n\nTERREBONNE, QC, July 13 /CNW Telbec/ - ADF GROUP INC. ("ADF" or the\n"Corporation") (Ticker symbol: DRX) is pleased to announce that it has been\nawarded a major contract of $77 million in the North America's public\ninfrastructure sector. The contract includes the design and engineering of\nconnections, supply of the steel, and fabrication of oversized steel\ncomponents with complex geometry and which will weigh close to 100 tons each,\nas well as highly complex architectural elements. The project will extend over\na 20-month period, with delivery to start in the fall of 2009.\n\n\nThis major contract award will require the creation of about fifty\nadditional jobs at the Terrebonne plant, in addition to minor investments for\nthe acquisition of new fabrication equipment.\n\n\nThis contract increases the Corporation's order backlog to close to $190\nmillion as at July 13, 2009, excluding revenues for the current quarter ending\nJuly 31, 2009. It will contribute to maintain a good in-plant occupancy rate\nuntil the first half of 2011.\n\n\nMr. Jean Paschini, Chairman of the Board and Chief Executive Officer,\ndeclares, "This is the second most important contract in dollars in ADF's\nhistory. This project is a very nice challenge for our team. It has very high\ncriteria notably because of the particularly complex geometry, weights and\ndimensions of the steel components, in addition to the strict standards of\ntolerance and aesthetics. We are very well positioned for these types of\nlarge-scale projects, because of the strategic orientation of our activities\nin a highly specialized niche and the major investments carried out in the\nlast years to increase our operational capacities and improve our efficiency.\nThis project will further strengthen our position as a leader in technically\ncomplex and high value-added steel superstructure projects".\n\n\nManagement wishes to add that pursuant to a confidentiality agree...