Steel superstructures builder ADF Group Inc.(DRX.TO) announced Monday that it won a C$77 million contract in the North America's public infrastructure sector. The company also said that the contract would create about 50 additional jobs at its Terrebonne plant in Quebec.
As per the deal, ADF would design and engineer connections, supply of the steel, and fabrication of oversized steel components with complex geometry as well as architectural elements. The project will extend over a 20-month period, with delivery commencing in the fall of 2009.
The company revealed that the contract award will require creation of about 50 more jobs at the Terrebonne plant, in addition to minor investments for the acquisition of new fabrication equipment.
Further, the company said that the contract, which increases its order backlog to nearly C$190 million as on July 13, will help maintaining a good in-plant occupancy rate until the first half of 2011.
Jean Paschini, Chief Executive Officer of ADF said, "This is the second most important contract in dollars in ADF's history. This project is a very nice challenge for our team. It has very high criteria notably because of the particularly complex geometry, weights and dimensions of the steel components, in addition to the strict standards of tolerance and aesthetics."
DRX.TO closed Friday's regular trading session at C$2.23 on the TSX.
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