Source: CEMATRIX Corporation
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • CEMATRIX Corporation (CVX) has announced that its wholly-owned operating subsidiaries have executed $22.5 million in new contracts
  • These subsidiaries include CEMATRIX (Canada) Inc., MixOnSite USA Inc. and Pacific International Grout Company
  • Out of the $22.5 million, $19.7 million was converted from contracts in process
  • CEMATRIX manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America
  • Cematrix Corporation opened trading at $0.185

CEMATRIX Corporation (CVX) has announced that its wholly-owned operating subsidiaries have executed $22.5 million in new contracts.

These subsidiaries include CEMATRIX (Canada) Inc., MixOnSite USA Inc. and Pacific International Grout Company.

Out of the $22.5 million, $19.7 million was converted from contracts in process.

Factoring in the $22.5M in contracts executed, the converted contracts, and the new contracts in process and sales completed to date, the corporation’s backlog remains strong at $87.9 million.

$42.1 million of the corporation’s backlog is now contracted and $45.8 million is contracts in process.

The $22.5 million in contracts executed since the company’s last contract announcement include a $20.3 million (US$15.8 million) contract with Balfour Beatty Infrastructure Inc. for the backfill of several new overpasses along a new freeway corridor in North Carolina.

The US 70 Design-Build Project was awarded to MOS by Balfour Beatty and is the largest known cellular concrete infrastructure project ever awarded in North America.

“It is important to note that the CEMATRIX Group was awarded this project not on price alone, but also because of our advanced technologies and product/engineering applications knowledge that enabled CEMATRIX to work with the general contractor and the owner to re-engineer the project for the benefit of all parties involved,” explained Jeff Kendrick, CEMATRIX President and CEO.

CEMATRIX defines corporation’s backlog as as contracted plus contracts in process net of sales completed to date.

Conversely, it defines contracts in process as projects where the related contract is in office for review or signature; signed and returned to the client for their signature; is in the post-award project submission process, or is awarded by letter of intent, or is cited by some other form of written communication.

CEMATRIX manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America.

CEMATRIX Corporation opened trading at $0.185.


More From The Market Herald

" Lithium plant developer zeros in on Thunder Bay refinery site

Ian Ross, Northern Ontario Business

" Algoma Steel (TSX:ASTL) announces preliminary results of substantial issuer bid

Algoma Steel Group (ASTL) has announced the preliminary results of its substantial issuer bid which expired on July 27, 2022.

" Algoma Steel (TSX:ASTL) donates $1 million to Sault Area Hospital’s Residential Withdrawal Management Facility

Algoma Steel Group (ASTL) has donated C$1 million to the Sault Area Hospital Foundation (SAHF).

" Rock Tech Lithium (TSXV:RCK) signs framework agreement with German car producer

Rock Tech Lithium (RCK) has signed a framework agreement with a renowned globally operating car producer headquartered in Germany.