TERREBONNE, QC, March 20, 2013 /CNW Telbec/ - ADF GROUP INC. ("ADF" or the "Corporation") (TSX: DRX) is happy to announce the award of the contract for the fabrication and installation of the steel structure of Quebec City's new multipurpose amphitheater. This contract, worth $46.6 million, will be delivered by August 2014. This contract is the single most important one of this megaproject, which will total close to $400 million.
"We are proud to be chosen as a major partner for this promising project for the City of Quebec", declared Mr. Jean Paschini, Chairman of the Board and Chief Executive Officer.
At the close of the bidding process and following the opening of tenders by the City of Quebec, last February 6, ADF Group was the lowest bidder. However, before the City of Quebec could officially award this prestigious contract to ADF, the Corporation needed to meet certain other conditions, including obtaining the authorization from "Autorité des Marchés Financiers" ("AMF"), now required under the new Bill n° 1, Integrity in Public Contracts Act. This authorization is mandatory for all companies wishing to work on any public construction or services contract of $40 million or more. On March 13, 2013, ADF issued a press release announcing that it had received, on that day, this authorization from AMF.
About ADF Group Inc.
ADF Group Inc. is a North American leader in the design, engineering, fabrication and installation in the non-residential construction industry of complex steel structures, heavy built-ups, as well as in miscellaneous and architectural metals. ADF is one of the key players in the industry capable of handling highly technically complex mega projects on fast-track schedules in the commercial, institutional, industrial and public sectors.
This press release contains forward-looking statements reflecting ADF objectives and expectations. These statements are identified by the use of verbs such as "expect" as well as by the use of future or conditional tenses. By their very nature these types of statements involve risks and uncertainty. Consequently, reality may differ from ADF's expectations.
All amounts are in Canadian dollars.
SOURCE: ADF Group Inc.
For further information:
Jean Paschini, Chairman of the Board of Directors and Chief Executive Officer
Jean-Francois Boursier, Chief Financial Officer
Telephone: (450) 965-1911 / 1 (800) 263-7560
Web Site: www.adfgroup.com