CEMATRIX announces $4.6M in new contracts
by CM Staff
Factoring in these $4.6M in new contracts, the converted contracts and the sales completed to date, the Corporation’s backlog now totals $86.1 million.
CALGARY — CEMATRIX Corporation, a North American manufacturer and supplier of technologically advanced cellular concrete products announced that its wholly owned operating subsidiaries, which include CEMATRIX (Canada) Inc., MixOnSite USA Inc. and Pacific International Grout Company have executed $4.6 million in contracts, of which $3.2 million was previously characterized as contracts in process.
Factoring in these $4.6M in new contracts, the converted contracts and the sales completed to date, the Corporation’s backlog now totals $86.1 million. $24.9 million of the Corporation’s backlog is Contracted and $61.2 million is Contracts in Process.
“As we approach year end, we are pleased to announce these new contracts, some of which will be completed before the end of the year,” stated Jeff Kendrick, CEMATRIX President and CEO. “A couple of these projects are in the million dollar range, but most of these new contracts are small to mid-sized projects throughout Canada and the U.S. CEMATRIX’s backlog continues to remain strong and has increased 28% compared to the previous year end. U.S. and Canadian bid activity also remains strong and we anticipate this will begin to accelerate with pending infrastructure spending in the U.S. With the construction world having now adjusted to the effects of COVID delays, 2022 is expected to be a stronger year for CEMATRIX, as new projects continue to be landed and placed and our significant backlog begins to be realized.”
“We are also pleased to announce that our staff and their families have remained safe and that we have had no workplace safety incidents in 2021. We wish all of you a safe and Merry Christmas Season and a happy New Year.”
As of January 1, 2021, the Corporation’s Backlog is defined as Contracted plus Contracts in Process net of sales completed to date. Contracts in Process are defined as projects where the related contract is in office for review or signature; or signed and returned to the client for their signature; or is in the post award project submission process; or is awarded by letter of intent; or is awarded by some other form of written communication.
