CEMATRIX announces US$5.9 million in new contracts, backlog continues to grow to US$95.7 million
Published by Sol Klappholz,
Assistant Editor
World Cement,
CEMATRIX, a North American leading manufacturer and supplier of technologically advanced cellular concrete products, has announced that it has executed US$5.9 million in new contracts to bring total contracts announced since the end of the fiscal year to US$21.7 million and US$58.3 million since August 3, 2022.
US$38.2 million of the current backlog is scheduled for 2023. $34 million of the 2023 backlog is contracted and a portion of these contracts have already been placed in 2023. To date, the current backlog already represents a 31.7% increase compared to total sales for 2022, an increase that will continue to rise as new contracts are announced and completed for the remainder of 2023.
The Corporation’s backlog has increased to US$95.7 million, a 19.8% increase compared to the sales adjusted backlog of US$79.6 million as of December 31, 2022. US$47.8 million of the Corporation’s current backlog is now Contracted and US$47.9 million is Contracts in Process.
“The US$5.9 million in contracts executed since our last contract announcement includes a US$1.3 million tunnel grouting project in the Gulf States and a US$1.2 million bridge backfill project in the Northwest US The balance of the new contracts included in this announcement are for various types of infrastructure applications across North America with price tags below US$1 million,” stated Jeff Kendrick, CEMATRIX President and CEO. “Furthermore, our backlog now includes a 12th project in excess of $1 million that is scheduled for full or partial completion in 2023 bringing the total expected 2023 sales related to projects in excess of US$1 million to US$26.1 million. The new addition to US$1 million plus contract and contracts in process relates to a larger US$3.7 million overpass/structural wall panel backfill project which is scheduled to be commenced before the end of the year and carry on into 2024. Although our backlog continues to be realised, the continued organic growth of the North American market is not only sustaining our backlog, but in fact growing it. After deducting sales, our backlog to the end of April is now 229% of last year’s sales and this is supported by our sales pipeline which has grown to more than US$440 million”.
The Company’s sales pipeline is defined as the estimated value of projects that the Company has been approached on for a design or quote or both and/or from the quotes that have been requested as part of a infrastructure construction tender document listed on one of the construction project data bases like Construct Connect. 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.
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Read the article online at: https://www.worldcement.com/the-americas/19072023/cematrix-announces-us59-million-in-new-contracts-backlog-continues-to-grow-to-us957-million/
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