- CEMATRIX (CVX) has won C$6 million in new projects, growing its backlog to C$94.4 million
- The projects include tunnel grouting and wharf backfilling in the U.S. and Canada
- Approximately C$13.2 million of the company’s backlog is contracted while C$81.2 million has contracts in process
- CEMATRIX manufactures and supplies cellular concrete products across North America
- CEMATRIX (CVX) is up 3.39 per cent and is currently trading at C$0.61 per share
CEMATRIX (CVX) has won C$6 million in new projects, growing its backlog to C$94.4 million.
Approximately C$13.2 million of the company’s backlog is contracted while C$81.2 million has contracts in process.
Contracts in process are defined as projects where the related contract is one of the following:
- In-office for review or signature
- Signed and returned to the client for their signature
- Undergoing the post-award project submission process
- Awarded by letter of intent
- Awarded by some other form of written communication
Jeff Kendrick, CEMATRIX President and CEO, commented,
“These new projects include a tunnel grouting project and a wharf backfill project in the United States, a Canadian-based tunnel grouting project and several smaller geo-technical projects in various locations throughout North America.
Although the COVID situation continues, management is seeing most of its projects move forward as anticipated and does not expect significant future delays at this time. Furthermore, management is also experiencing an uptick in weekly bid levels in both the United States and Canada.
This recent market strength does not include potential project opportunities that may arise from the US$1 trillion of replacement infrastructure projects that the government of the United States announced earlier this year to spur economic activity.”
CEMATRIX manufactures and supplies cellular concrete products across North America. This cement-based material with thermal protection delivers cost-effective, innovative solutions to a broad range of problems facing the infrastructure, industrial and commercial markets.
CEMATRIX (CVX) is up 3.39 per cent and is currently trading at C$0.61 per share as of 11:04 am ET.
