Contracts Reach Record Total
CALGARY, Alberta, Oct. 15, 2019 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (CVX.V) (the “Corporation” or “CEMATRIX”) through its wholly owned operating subsidiaries, CEMATRIX (Canada) Inc. (“CCI”), MixOnSite USA Inc. (“MOS”) and Pacific International Grout Company (“PIGCO’) has secured a $4.4 million U.S. infrastructure contract. This new contract increases this year’s contracted sales to $37.4 million, of which $14.0 million are currently scheduled to carry over to 2020.
Total contracts and verbally awarded projects for CEMATRIX Group, including the contracts noted above, increased by $1.0 million to a record of approximately $72.0 million to date, of which approximately $43.2 million are currently scheduled to carry over into 2020/21.
“The $4.4 million contract is a large, engineered fill project in the Midwestern region of the United States and is a testament to the quality work completed by CEMATRIX’s MOS subsidiary on similar projects over the past couple of years” stated Jeff Kendrick, CEMATRIX President and CEO. “Furthermore, this new sizeable contract reflects the continued growth of the cellular concrete market, as engineers continue to choose cellular concrete over other legacy products. CEMATRIX’s cellular concrete provides a better overall construction solution to engineered fill type applications, when new or replacement infrastructure including freeways, bridges, roads, runways and facilities are being constructed over weak and unstable soils.”
CEMATRIX is a rapidly growing, cash flow positive company that 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 (including oil and gas) and commercial markets. Through recent acquisitions of Chicago based MixOnSite and Bellingham based Pacific International Grout, CEMATRIX is now North America’s largest Cellular Concrete company.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Jeff Kendrick - President and Chief Executive Officer
Phone: (403) 219-0484
Glen Akselrod – President, Bristol Capital
Phone: (905) 326 1888 ext 1
Jeff Walker, The Howard Group – Investor Relations
Phone: (888) 221-0915 or (403) 221-0915
Forward-looking information: This news release contains certain information that is forward looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as “anticipate”, expect”, “would’ or other similar words). Forward looking statements in this document are intended to provide CEMATRIX security holders and potential investors with information regarding CEMATRIX and its subsidiaries’ future financial and operations plans and outlook. All forward looking statements reflect CEMATRIX’s beliefs and assumptions based on information available at the time the statements were made. Readers are cautioned not to place undue reliance on this forward looking information. CEMATRIX undertakes no obligation to update or revise forward looking information except as required by law. For additional information on the assumptions made and the risks and uncertainties which may cause actual results to differ from the anticipated results, refer the CEMATRIX’s Management Discussion and Analysis dated August 7, 2019 under CEMATRIX’s profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.