------------------------------------------------------------------------- - Corporation's order backlog increases to close to $190 million as at July 13, 2009, excluding the revenues for the current quarter ending July 31, 2009. - Creation of about fifty additional jobs at its Terrebonne plant. -------------------------------------------------------------------------
TERREBONNE, QC, July 13 /CNW Telbec/ - ADF GROUP INC. ("ADF" or the "Corporation") (Ticker symbol: DRX) is pleased to announce that it has been awarded a major contract of $77 million in the North America's public infrastructure sector. The contract includes the design and engineering of connections, supply of the steel, and fabrication of oversized steel components with complex geometry and which will weigh close to 100 tons each, as well as highly complex architectural elements. The project will extend over a 20-month period, with delivery to start in the fall of 2009.
This major contract award will require the creation of about fifty additional jobs at the Terrebonne plant, in addition to minor investments for the acquisition of new fabrication equipment.
This contract increases the Corporation's order backlog to close to $190 million as at July 13, 2009, excluding revenues for the current quarter ending July 31, 2009. It will contribute to maintain a good in-plant occupancy rate until the first half of 2011.
Mr. Jean Paschini, Chairman of the Board and Chief Executive Officer, declares, "This is the second most important contract in dollars in ADF's history. This project is a very nice challenge for our team. It has very high criteria notably because of the particularly complex geometry, weights and dimensions of the steel components, in addition to the strict standards of tolerance and aesthetics. We are very well positioned for these types of large-scale projects, because of the strategic orientation of our activities in a highly specialized niche and the major investments carried out in the last years to increase our operational capacities and improve our efficiency. This project will further strengthen our position as a leader in technically complex and high value-added steel superstructure projects".
Management wishes to add that pursuant to a confidentiality agreement with the customer, no further details regarding this contract may be disclosed for the moment.
Results of the second quarter ending July 31, 2009
The results of the second quarter ending July 31, 2009 will be disclosed on September 9, 2009.
About ADF
ADF Group Inc. is a North American leader in the design, engineering, fabrication and selective installation in the non-residential construction industry of complex steel superstructures, as well as in architectural metal work. ADF 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.
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.
All amounts are expressed in Canadian dollars.