CEMATRIX Corporation Announces New Contracts
- Contracted Revenue For 2018 Completion Now Exceeds $18.4 Million
CALGARY, Alberta, July 03, 2018 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV:CVX) (the "Corporation" or "CEMATRIX") announces that its wholly owned operating subsidiary, CEMATRIX (Canada) Inc. has secured $1.4 million in new infrastructure contracts. These new contracts increase this year's contracted sales to $8.8 million. Total contracts and verbally awarded projects for CEMATRIX Canada, now exceeds $12.8 million for 2018.
CEMATRIX's newest subsidiary, MixOnSite of Chicago, has approximately $16.5 million contracted and verbally awarded to date for 2018 and beyond, $13.3 million of which is contracted. This brings the current year's total of contracted and verbally awarded consolidated sales for CEMATRIX to $29.3 million, of which approximately $6.9 million is scheduled to be completed in 2019 and 2020.
"These new Canadian infrastructure contracts, combined with the US projects picked up with the acquisition of MixOnSite, which closed May 31, 2018, will mean a record year for CEMATRIX for 2018," stated Jeff Kendrick, CEMATRIX President and CEO. "On an annualized basis, 2018 sales would exceed $30 million Canadian and we can expect these sales levels to continue to grow with the increased acceptance of cellular concrete across North America and the continued application of Joint Marketing and Regional Expansion Agreements with Lafarge."
CEMATRIX is an Alberta corporation with its head offices in Calgary, Alberta. The Corporation, through its wholly owned subsidiary, is a rapidly growing company that manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations. This unique cement-based material with superior thermal protection, delivers a cost-effective, innovative solution to a broad range of problems facing the infrastructure, industrial (including oil and gas) and commercial markets.
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
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 May 23, 2018 under CEMATRIX's profile on SEDAR at and other reports filed by CEMATRIX with Canadian securities regulators.
