- Cematrix (CVX) received $6 million in new contracts in 2023, bringing the total contracts announced since the end of the fiscal year to $15.8 million
- Factoring in the $6 million in contracts executed, the corporation’s backlog has increased to $93.2 million
- Cematrix manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America
- Cematrix Corporation (CVX) is up 2.94 per cent, trading at C$0.175 per share at 10:16 am ET
Cematrix (CVX) received $6 million in new contracts in 2023, bringing the total contracts announced since the end of the fiscal year to $15.8 million.
Projects totaling $36 million are currently scheduled for 2023, of which $28.6 million are contracted.
Factoring in the $6 million in contracts executed, converted contracts, the increase in Contracts in Process of $1.8 million and sales completed to the end of March 2023, the corporation’s backlog has increased to $93.2 million. This is a 17 per cent increase compared to Cematrix’s sales adjusted backlog of $79.6 million as at December 31, 2022.
$44.3 million of the corporation’s current backlog is now contracted and $48.9 million is Contracts in Process.
Contract outline
The company reported that the $6 million in contracts executed are for geotechnical infrastructure projects across North America. One of the new contracts is a $2.2 million commercial project on the west coast. The balance of the new projects are infrastructure applications with price tags below $1 million.
Cematrix updated that its organic growth is strong and expects the trend to continue for the foreseeable future. The company’s backlog and sales pipeline has increased and now exceeds $430 million.
About Cematrix
Cematrix manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America. Its 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.
Cematrix Corporation (CVX) is up 2.94 per cent, trading at C$0.175 per share at 10:16 am ET.
The materials provided in this article are for information only and should not be treated as investment advice. For full disclaimer information, please click here.