CEMATRIX Announces $6.7 Million In New Contracts

CALGARY, Alberta, March 06, 2024 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSXV: CVX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company") a North American leading manufacturer and supplier of technologically advanced cellular concrete products is pleased to announce that it has signed $6.7 million in new and modified contracts, bringing its total contracts announced since the beginning of the fiscal 2024 year to $12.9 million.

“These new contracts add to the momentum built throughout 2023 that delivered record revenues for CEMATRIX,” stated Jeff Kendrick, CEMATRIX President and CEO. “We continue to safely and efficiently execute on the backlog that we have developed over the past few years, and we continue to maintain and build our backlog organically with a healthy mix of repeat business and new customers.” 

“The majority of the $6.7 million in new contracts are new projects, not previously included in Contracts in Process. These new projects or changes to projects include a $1.2 million load reducing fill project in the Eastern U.S. and a $1.4 million change order to a tunnel backfill project in the Midwest U.S. All of the new and modified contracts are currently scheduled to be completed in 2024”.

Factoring in these new contracts, changes to existing contracts and after deducting sales to the end of January, the company backlog is approximately $100.0 million as of March 6^th, 2024.

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.

ABOUT CEMATRIX

CEMATRIX is a rapidly growing company that manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations across North America. This unique cement-based material with superior thermal protection delivers cost-effective, innovative solutions to a broad range of problems facing the infrastructure, industrial, energy and commercial markets. The Company’s wholly owned operating subsidiaries include CEMATRIX (Canada) Inc. (“CCI”), Chicago based MixOnSite USA Inc. (“MOS”) and Bellingham based Pacific International Grout Company (“PIGCO’). This has made CEMATRIX a true leader in North America’s growing Cellular Concrete market. For more information, please visit our website at www.cematrix.com.