- Cematrix (CVX) wholly-owned operating subsidiaries have executed $9.9 million in new contracts with $4.4 million in other projects
- With these contracts, the corporation’s backlog remains strong at $82.0 million
- Cematrix manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America
- Cematrix Corporation (CVX) is holding steady, trading at C$0.23 per share at 11:24 am ET
Cematrix (CVX) wholly-owned operating subsidiaries have executed $9.9 million in new contracts with $4.4 million in other projects.
The company’s operating subsidiaries include Cematrix (Canada) Inc. (CCI), MixOnSite USA Inc. (MOS) and Pacific International Grout Company (PIGCO). The $4.4 million in other projects was awarded by way of a letter of intent upon which contracts are being processed.
With these contracts, the corporation’s backlog remains strong at $82.0 million. $38.7 million of the corporation’s backlog is now contracted, and $43.3 million in contracts in process.
Jeff Kendrick, President and CEO of Cematrix, commented on the news.
“The $9.9 million in contracts executed and the net $4.4 million increase in contracts in process are for geotechnical and tunnel infrastructure projects across North America. The total contracts executed include one $6.5 million tunnel project, which is scheduled to commence in the spring of 2023.”
“I am pleased with how this past quarter has and continues to shape up from a sales perspective. Our Cematrix group of companies continues to place a good volume of material. We continue to replace all of that sold volume with new projects to keep our backlog in excess of $80 million. This continued sales growth bodes well for 2023 and beyond.”
The corporation’s backlog is defined as contracted plus contracts in process net of sales completed to date.
Cematrix manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America. This unique cement-based material with superior thermal protection delivers cost-effective, innovative solutions to a broad range of problems facing the infrastructure, industrial and commercial markets.
Cematrix Corporation (CVX) is holding steady, trading at C$0.23 per share at 11:24 am ET.
