TERREBONNE, QC, Feb. 13, 2014 /CNW Telbec/ - ADF GROUP INC. ("ADF" or the "Corporation") (TSX: DRX) announced today that the Corporation's Board of Directors approved plans for its U.S. subsidiary ADF International Inc. to build a new 3,900-square-meter (42,000 ft2) paint shop, adjacent to its new state-of-the-art fabrication plant in Great Falls, Montana, U.S.A. This new building, including acquisition of equipment, will require a $US6.0 million investment. The Corporation will use its own funds to finance this new strategic investment.
Ground breaking on the construction of this new shop will start in late March 2014, with commissioning planned for September 2014.
Mr. Jean Paschini, Co-Chairman of the Board of Directors and Chief Executive Officer, adds "this new investment will provide both of our fabrication plants, in Great Falls and Terrebonne, with another competitive edge to effectively serve existing and new markets and to expand ADF's client-base in North America.
Results for the Fiscal Year Ended January 31, 2014
The Corporation will publish the results for its fiscal year ended January 31, 2014, before market opens on April 10, 2014.
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.
All amounts are in U.S. dollars.
SOURCE: ADF Group Inc.
For further information:
Jean-François Boursier, CPA, CA, Chief Financial Officer
Telephone: (450) 965-1911 / 1 (800) 263-7560
Web Site: www.adfgroup.com