- Cellular concrete manufacturer CEMATRIX (CVX) has been awarded C$3.6 million in new projects, growing its backlog to $96.2 million
- A total of $14.8 million of the backlog is contracted while $81.4 million is in contracts in process
- The company’s definition of contracts in process covers written communications and the post-award submission process
- CEMATRIX manufactures and supplies cellular concrete products across North America
- CEMATRIX (CVX) is trading flat at $0.51 per share
Cellular concrete manufacturer CEMATRIX (CVX) has been awarded C$3.6 million in new projects, growing its backlog to $96.2 million.
A total of $14.8 million of the backlog is contracted while $81.4 million is in contracts in process.
The company defines contracts in process as projects where the related contract is:
- In office for review or signature
- Signed and returned to the client for their signature
- In the post-award project submission process
- Is awarded by letter of intent
- Is awarded by some other form of written communication
Jeff Kendrick, CEMATRIX’s President and CEO, commented,
“We are pleased to announce that the majority of these projects are Canadian based projects, further illustrating the continued rebound of the Canadian market from last year’s COVID-affected Canadian sales totals.
In 2020, CEMATRIX’s Canadian sales decreased by over 50 per cent compared to 2019 revenue totals. These new project awards are currently scheduled to be completed in 2021, another positive sign that project delays related to the COVID situation are slowly coming to an end both in Canada and in the United States.”
CEMATRIX manufactures and supplies cellular concrete products across North America.
CEMATRIX (CVX) is trading flat at $0.51 per share as of 9:30 am ET.