- CEMATRIX Corporation’s (CVX) wholly-owned subsidiaries have executed $5.3 million in new contracts
- Subsidiaries include CEMATRIX (Canada) Inc. (CCI), MixOnSite USA Inc. (MOS) and Pacific International Grout Company (PIGCO)
- A total of $40.9 million of the corporation’s current backlog is now contracted, and $45.5 million are in process
- $32.3 million of the current backlog is scheduled for 2023
- CEMATRIX manufactures and supplies cellular concrete products across North America
- CEMATRIX (CVX) opened trading at C$0.18
CEMATRIX (CVX) subsidiaries CEMATRIX (Canada) Inc., MixOnSite USA Inc. and Pacific International Grout Company have executed $5.3 million in new contracts.
With these new contracts, the corporation’s backlog has increased to $86.4 million, a 9 per cent increase compared to CEMATRIX’s backlog of $79.5 million as of December 31, 2022.
A total of $40.9 million of the corporation’s current backlog is now contracted, and $45.5 million are in process. $32.3 million of the current backlog is scheduled for 2023, of which $29 million is contracted.
“The $5.3 million executed since our last contract announcement is for geotechnical and tunnel infrastructure projects across North America,” stated Jeff Kendrick, CEMATRIX President and CEO.
“We have seen significant demand in the past quarter on geotechnical and tunnel infrastructure projects, a positive sign for growth in this particular sector as the industry continues to embrace cellular concrete as a viable solution to meet its complex needs.”
“Organic growth remained strong in 2022 at approximately 36 per cent, and we expect this strong organic growth to continue for the foreseeable future as supported by our sales pipeline, which continues to exceed $380 million,” concluded Mr. Kendrick.
The corporation’s backlog is defined as contracted plus contracts in process net of sales completed to date.
CEMATRIX manufactures and supplies cellular concrete products across North America.
CEMATRIX (CVX) opened trading at C$0.18.
