CEMATRIX Corporation, a North American leading manufacturer and supplier of cellular concrete products, has provided a business update related to the impact of COVID-19 and the measures taken by the Corporation across the CEMATRIX Group of companies.
While the situation remains extremely fluid, there have been no significant delays or cancellations to date, other than for a few projects that were originally scheduled to be completed in the first quarter. These projects are now expected to be completed in the second quarter, but these delays have caused a short-term cash flow issue that the company continues to manage. Even with the short-term delays, approximately US$20 million in projects are still scheduled to be placed before the end of the second quarter and many of these projects are either underway, or being mobilised to, or scheduled for completion, once other projects are complete. The COVID-19 dynamics continue to evolve on a daily basis and could impact the Corporation and our operating subsidiaries including CEMATRIX (Canada) Inc., MixOnSite USA Inc., and Pacific International Grout Company in other ways.
As a result of COVID-19 and its potential impact, the Corporation has taken numerous steps to ensure the health and safety of employees, clients and partners. The following is a copy of a letter sent to current clients and partners:
CEMATRIX remains fully operational and committed to our staff, clients, and partners as we all work together to keep each other safe in the face of COVID-19. The health and safety of our team, and all those we work and interact with, is our first and foremost priority.
We are committed to delivering our products and services in the safest and most responsible way possible, while closely monitoring and acting in accordance with the guidance of government and public health authorities.
CEMATRIX continues to honour deadlines and fulfil obligations. All our office employees have been encouraged and supported to continue their important roles and contributions from home and remain reachable by email and phone. All non-essential business travel and in-person meetings are restricted but we are prepared with the necessary tools to effectively handle our client support roles remotely.
As always, CEMATRIX operations staff are committed to working in accordance with project/site specific protocols. Due to the nature of our work, CEMATRIX can execute our duties on-site with a small workforce and little oversight and interaction with others.
We will continue to monitor the situation closely and will keep you advised of any expected changes to our level of service.
Should you have any questions or concerns, please feel free to contact your local representative.
“In these unprecedented times with continuous change, I am pleased to announce that as of this date, none of our projects are cancelled and all of our projects continue to go ahead as planned”, stated Jeff Kendrick, President and CEO of CEMATRIX. “We have up to US$20 million in projects that are scheduled to be placed before the end of the second quarter. As the COVID-19 situation continues to evolve, circumstances may change, and we may encounter some project delays. If this were to occur, only our projected completion dates will be affected. There will be no outright cancellations that are affecting many other businesses across North America and Globally. We are very fortunate. Currently, infrastructure projects are considered essential services by most States and Provinces and are exempt from mandatory shutdowns. Should this situation change and governments order a complete shut down for a period of time, we could continue to face some short-term cash flow issues, but mechanisms have and are being put in place by various government agencies to assist in this situation. Furthermore, the good news is that these contracted projects will be ready to go into the ground as soon as the shutdown is lifted, a scenario that CEMATRIX has anticipated and is prepared for.”
“Most importantly, we thank you for your continued support and wish you and your families all the best during these difficult times. Stay healthy and safe, listen to your local healthcare and government authorities and join us all in ensuring that all of us across North America stay safe together,” concluded Kendrick.
Read the article online at: https://www.worldcement.com/the-americas/31032020/cematrix-corporation-responds-to-covid-19-pandemic/