TERREBONNE, QC - The management of ADF INC GROUP. ('ADF' or the 'Company') (TSX: DRX), a North American leader in the manufacture of steel superstructures, announces the signing of a series of new orders worth a total of $142 million in the United States, including a major contract for the first phase of a construction project in the pharmaceutical sector in the Midwest region.
This major new contract, which is the largest contract in this series of new orders, in terms of value, covers the design and engineering of connections, fabrication work, including steel supply and industrial cladding, as well as the erection of the steel structure of a new large-area industrial building.
This project requires high-volume production. Work will begin in the coming weeks at ADF's Terrebonne plant over a 12-month period.
Mr. Jean Paschini, Chairman of the Board of Directors and Chief Executive Officer, points out that 'this project will be carried out largely using our new robotic-assisted manufacturing line, and everything related to the fabrication and assembly of the complex steel components of this building is entrusted to the know-how of our production teams. Our recent investments in our infrastructure and new technologies give us the ability to effectively meet the requirements of this project and our client's ambitious targets.'
Mr. Paschini adds that the Company has already begun negotiations with this client for the second phase of this construction project.
The Company's backlog was $376.5 million as at January 31, 2023.
Conference Call with Investors
An investor conference call will be held on Wednesday, June 7, 2023 at 10:30 a.m. (Montreal time) to discuss the results for the first quarter ended April 2023, .
To join the conference call without carrier assistance, you can sign up with your phone number on https://emportal.ink/40D7CuB to receive an instant automatic reminder. You can also reach the call through an operator by dialing 1 (888) 390-0620 a few minutes before the scheduled start time of the conference call.
A replay of the recording of this call will be available from 13 p.m. on Wednesday, June 7, 2023 until Wednesday, June 14, 2023 at midnight by dialing 1 (888) 259-6562; followed by the access code 020433 #.
The conference call (audio) will also be available www.adfgroup.com. Members of the media are invited to join in listening mode.
Annual Meeting of Shareholders for the year ended January 31, 2023
ADF Group Inc.'s Annual Meeting of Shareholders will be held on June 7, 2023, at 11 a.m. (EST), which will also be available via webcast at https://app.webinar.net/9K2PYLZrLVm.
About ADF Group Inc.
ADF Group Inc. is a North American leader in the design and engineering of connections, manufacturing, including the application of industrial coatings, the assembly of complex metal structures, heavy steel components, as well as fabricated and architectural metals, for the non-residential infrastructure sector. ADF Group Inc. is one of the few industry players able to carry out commercial, institutional, industrial and public megaprojects characterized by a very high level of technological complexity and accelerated timelines. The Company now operates two manufacturing plants and two paint shops; in Canada and the United States, as well as a 'Construction' division in the United States, which specializes in the assembly of steel structures and other related products.
Forward-Looking Statements | This press release contains forward-looking statements that reflect ADF's objectives and expectations. These statements are identified by verbs such as 'expects that' as well as by the use of future and conditional verb tenses. By their nature, these statements involve risks and uncertainties. As a result, actual facts may differ from ADF's expectations.
Contact:
Jean Paschini
Chairman of the Board and Chief Executive Officer
Jean-Francois Boursier
CPA
Chief Financial Officer
Telephone: (450) 965-1911
Website: www.adfgroup.com
ADF GROUP INC. 
