Construction/Building — November 13, 2012CEMATRIX Corporation Announces $1.3 million Of New Contracts
CALGARY, ALBERTA--(Marketwire - Nov. 13, 2012) - CEMATRIX Corporation (TSX VENTURE:CVX) (the "Corporation" or the "Company" or "CEMATRIX") is pleased to announce that its wholly owned subsidiary, CEMATRIX (Canada) Inc. has received signed orders for infrastructure projects in the amount of $1.3 million, $0.6 million of which are scheduled for completion in 2012. These new contract's bring this year's total contracted work to $11.7 million, of which approximately $8.7 million is scheduled for completion in 2012 and approximately $3.0 million is scheduled for completion in 2013.
"Our orders continue to increase beyond prior year levels which is confirmation of the results of our continued marketing and the acceptance of our product in the engineering community" stated Jeff Kendrick, CEMATRIX President and CEO. "Our continued diversification into the infrastructure construction market has also enabled CEMATRIX to become more diversified geographically across Canada and into the United States."
CEMATRIX is an Alberta corporation with its head offices in Calgary, Alberta. The Corporation, through its wholly owned subsidiary, is a manufacturer and supplier of technologically advanced cellular concrete products with applications in a variety of markets, including oil and gas construction and infrastructure construction. Cellular concrete provides a cost and labour saving solution for various construction applications. Applications for cellular concrete include tunnel grouting; bridge abutment and retaining wall backfill; insulation of shallow utilities, roads and runways; insulation and/or structural foundations for tank bases and facilities; and as a floating base over weak and unstable or seismic prone soils, for roads and other types of infrastructure.
Forward-looking information: This news release contains certain information that is forward looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", expect", "would' or other similar words). Forward looking statements in this document are intended to provide CEMATRIX security holders and potential investors with information regarding CEMATRIX and its subsidiaries' future financial and operations plans and outlook. All forward looking statements reflect CEMATRIX's beliefs and assumptions based on information available at the time the statements were made. Readers are cautioned not to place undue reliance on this forward looking information. CEMATRIX undertakes no obligation to update or revise forward looking information except as required by law. For additional information on the assumptions made and the risks and uncertainties which may cause actual results to differ from the anticipated results, refer the CEMATRIX's Management Discussion and Analysis dated August 1, 2012 under CEMATRIX's profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.
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