Subscribe
Be the first with the news that moves the market- Construction company ADF Group has signed a series of new orders in the U.S. worth C$142 million
- The orders include a major contract for phase 1 of a Midwest construction project in the pharmaceutical industry
- The company’s order backlog stood at $376.5 million as of January 31, 2023
- ADF Group is a North American specialist in engineered connections, industrial coatings, and complex steel structures
- ADF Group (TSX:DRX) last traded at $2.51 per share
Construction company ADF Group has signed a series of new orders in the U.S. worth C$142 million.
The orders include a major contract for phase 1 of a Midwest construction project in the pharmaceutical industry, which will see the company design and engineer connections and fabrications, supply steel and industrial coatings, as well as install the steel structure of a new large industrial building.
The construction company has begun negotiations with this client for the second phase of the project.
“This project will be carried out largely using our new robot-assisted fabrication line, and all work related to the fabrication and assembly of the complex steel components part of this building’s construction are entrusted to the know-how of our production teams,” stated Jean Paschini, Chairman and CEO, commenting on the pharma industry project.
“Our recent investments in our infrastructure and in new technologies give us the ability to effectively meet this project’s requirements and our client’s ambitious targets,” he added.
The construction company’s order backlog stood at $376.5 million as of January 31, 2023.
A conference call to discuss Q1 results is scheduled for June 7, 2023 at 10 am. The company’s annual shareholder meeting is scheduled for later that day.
ADF Group is a North American specialist in the design and engineering of connections and fabrications, including the application of industrial coatings, as well as the installation of complex steel structures in the commercial, institutional, industrial and public sectors.
ADF Group (TSX:DRX) last traded at $2.51 per share.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
