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From: Flipper121/25/2021 10:01:02 AM
1 Recommendation   of 49332
 
Profitable, great valuation, strong balance sheet and huge backlog.

ADF Group Announces the Awards of New Contracts Signed in the United States and in Canada With a Total Value of $102 Million
(All amounts are in Canadian dollars, unless otherwise stated.)

TERREBONNE, QC, Jan. 25, 2021 /CNW Telbec/ - ADF GROUP INC. ("ADF" or the "Corporation") (TSX: DRX), a North American leader in the fabrication of steel superstructures, announces the award of new contracts in the commercial building and transportation infrastructure sectors in the USA and in Canada, worth a total of $102 million.

The scope of the largest of these contracts, in terms of value and tonnage, covers all services included in ADF's global offer, which consist in the design and engineering of connections, fabrication including industrial coating, the production of shop drawings, steel procurement, and the installation of the new steel structure of a large commercial building in Southeastern U.S.A. This project is characterized by a fast-track construction schedule. Fabrication is expected to start in the first months of 2021 at ADF's plant located in Terrebonne, Quebec.

The other major contracts won by ADF; in the transportation infrastructure sector in the Western USA and in the commercial building sector in Eastern Canada, also subject to accelerated schedules, include all services comprised in ADF's overall offering.

All of these contracts are scheduled to begin in the coming months, and will run until the end of the year 2021. Both ADF's fabrication plants and paint shops, in Terrebonne, Quebec, and in Great Falls in the state of Montana, will be involved in the carrying out these new projects.

Mr. Jean Paschini, Co-Chair of the Board of Directors and Chief Executive Officer, added "we continue to work with equal resilience and adaptability to the changes and trends observed in our markets. We remain confident that we will be able to secure more contracts in the coming months, and are committed to achieving our growth targets."

The Corporation's order backlog stood at $282.5 million at the close of the quarter ended October 31, 2020, excluding the new orders announced on November 25, 2020, worth $101 million, and the ones announced today.

About ADF

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.

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