TERREBONNE, QC, Nov. 5, 2012 /CNW Telbec/ - ADF GROUP INC. ("ADF" or the "Corporation") (TSX: DRX) announced today that the Corporation's Board of Directors approved an estimated US$24 million plan to build a new 9,290 square meter (or 100,000 ft2) structural steel fabrication complex on an 100 acres industrial land located in Great Falls, in the State of Montana, U.S.A.
Under its U.S. subsidiary banner, ADF International Inc., the Corporation will be operating by the second half of 2013 its new fabrication plant which will be equipped with state-of-the-art equipment, similar to those at its Terrebonne fabrication plant. The annual fabrication capacity of this new plant is estimated at more than 25,000 tons.
Moreover, adjacent to its new facility, ADF will set-up a large structural steel fabrication and pre-assembly yard, which will provide an important competitive edge to rapidly and effectively serve new sectors and fast growing markets
"Our expansion project has been very well received by Great Falls' and Montana's authorities. We are particularly pleased with the collaboration and support we received from local representatives toward the achievement of our investment project, which will contribute to the economic development of this beautiful region" said Mr. Jean Paschini, Chairman of the Board and Chief Executive Officer.
In addition to broadening its geographic footprint westward, this strategic investment will also give ADF access to the U.S. public infrastructures market segment.
"During the past months, we have studied many other sites to set-up a second plant, and we have chosen Great Falls in Montana for its strategic geographic location. Situated at 160 km from Alberta's border, the City of Great Falls will allow ADF to pursue its development both in Canada and the United States. We are very excited and confident about this key investment for ADF Group's future", added Mr. Paschini.
"We are very proud and excited to have this world-class company choose Great Falls for its western expansion", stated Mr. Brett Doney, President and CEO of Great Falls Development Authority. "Situated between Calgary and Salt Lake City, Great Falls is well positioned for the high growth regions of western Canada and the U.S. We are impressed with ADF's vision and professionalism, and look forward to supporting the company's long-term growth and success in Montana".
"We are extremely excited with today's announcement. Since our first communication, we've been nothing but impressed with ADF and their people. The process to get this done has required a lot of hard work on behalf of many; that said it's also been a lot of fun to work together to make this a reality. ADF is truly a family-run company that is going to fit in and be a huge addition to the region of Great Falls and is going to provide a lot of really good jobs for hard working people. Making this happen is a testament to what we are capable of in Great Falls", added Mr. Jeremiah Johnson, Vice President-Marketing of Great Falls Development Authority.
The work on the yard's infrastructure and the ground breaking on the construction of the new facility are set for the spring of 2013. Other expansion phases at this new facility could be considered in future years, as demands grow.
About ADF Group Inc.
ADF Group Inc. is a North American leader in the design and engineering of connections, fabrication and installation of complex steel structures, heavy steel built-ups, as well as in miscellaneous and architectural metals for the non residential construction industry. ADF Group Inc. is one of the few 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.
Image with caption: "Artist rendering of ADF's future new structural steel fabrication plant to be built in Great Falls, Montana, U.S.A. (CNW Group/ADF GROUP INC.)". Image available at: http://photos.newswire.ca/images/download/20121105_C4630_PHOTO_EN_20140.jpg
SOURCE: ADF GROUP INC.
For further information:
Jean Paschini, Chairman of the Board of Directors and Chief Executive Officer
Jean-François Boursier, CPA, CA, Chief Financial Officer
Telephone: (450) 965-1911 / 1 (800) 263-7560
Web Site: www.adfgroup.com