Latest news with #contractawards
Yahoo
21-07-2025
- Business
- Yahoo
CEMATRIX Announces $5.1 Million in New Contract Awards
CALGARY, Alberta, July 21, 2025 (GLOBE NEWSWIRE) -- CEMATRIX Corporation (TSX: CEMX) (OTCQB: CTXXF) ("CEMATRIX" or the "Company"), a specialty construction contractor that produces cellular concrete solutions on site and is a leading manufacturer and supplier of cellular concrete in North America announced today that it has won $5.1 million in new contract awards. New Contract Award Details: a load reducing fill application on a highway improvement project; a load reducing fill application for a tank base project; a load reducing fill application for a void fill project; the remaining projects are all small to mid-sized projects for lightweight fill applications in Canada and the US. 'These new awards continue to demonstrate the confidence that our customers have in CEMATRIX's sales and operations teams to deliver a quality solution to their geotechnical construction needs,' stated Randy Boomhour, President and CEO of CEMATRIX Corporation. 'Our focus remains on providing value to our customers by consistently delivering a quality product, on time and on budget. Every successful project strengthens our reputation and makes the next sales process easier.' For more information about CEMATRIX please visit ABOUT CEMATRIX CEMATRIX is a specialty construction contractor that produces cellular concrete solutions on site. Cellular concrete is a flowable, self-leveling, cement-based material with insulating properties. CEMATRIX provides customers with cost effective, innovative solutions to tough geotechnical construction challenges. Applications for cellular concrete include lightweight engineered fill, MSE & retaining wall fill, lightweight insulating road subbase, flowable self compacting fill, pipe & culvert abandonments, tunnel & annular grout, tunnel & shaft backfills, underwater / tremie fills, and shallow utility & foundation insulation. CEMATRIX is an early-stage growth Company with significant revenue, positive EBITDA, positive cashflow from operations, a very healthy balance sheet, and a strong team in place. The Company's wholly owned operating subsidiaries include CEMATRIX (Canada) Inc. ('CCI'), Chicago based MixOnSite USA Inc. ('MOS'), and Bellingham based Pacific International Grout Company ('PIGCO'). For more information, please visit our website at CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS The information in this press release includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, ongoing objectives, strategies and outlook for CEMATRIX, including statements regarding: the anticipated commencement and completion of the project. Forward-looking statements may in some cases be identified by words such as "may," "will," "expects," "target," "future," "plans," "believes," "anticipates," "estimates," "projects," "intends," "should" or the negative of these terms, or similar expressions. In addition to events beyond CEMATRIX's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to, the risk of not being able to meet contractual schedules and other performance requirements, the risks associated with a third party's failure to perform; the risk of not being able to meet its labour needs at reasonable costs; the risk of not being able to address any supply chain issues which may arise. These forward-looking statements are based on a variety of factors and assumptions including, but not limited to that: none of the risks identified above materialize, there are no unforeseen changes to economic and market conditions and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to CEMATRIX, including information obtained from third-party sources. While CEMATRIX believes that such third-party sources are reliable sources of information, CEMATRIX has not independently verified the information. CEMATRIX has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources. Risk factors are discussed in greater detail in CEMATRIX's 2024 Management's Discussion and Analysis for the fiscal year ended December 31, 2024 and CEMATRIX's Annual Information Form dated December 31, 2024, each filed on SEDAR+ ( Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and CEMATRIX undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release. For further information, please contact: Jeff Walker, Vice President, The Howard GroupPhone: (888) 221-0915 or (403) 221-0915 jeff@ or Glen Akselrod, President, Bristol CapitalPhone: (905) 326-1888 ext. 1glen@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Khaleej Times
20-07-2025
- Business
- Khaleej Times
UAE leads GCC project market in Q2 despite dip, outlook remains bright for 2025
The GCC project market is expected to gain renewed momentum in the second half of 2025, led by sustained activities in Saudi Arabia and the UAE. According to the latest data from MEED Projects and Kamco Invest, the UAE emerged as the region's top project market in the second quarter of the year, overtaking Saudi Arabia, despite a year-on-year drop in awarded contracts. The UAE recorded $14 billion worth of contract awards in Q2-2025, down from $26.4 billion in the same period last year — a 47 per cent decline. However, its share of the GCC project market rose to 49.2 per cent from 38.9 per cent in Q2-2024, highlighting the resilience and attractiveness of the UAE's diversified project portfolio. 'The UAE's ability to retain its lead in the region despite a sector-wide slowdown reflects its strategic investment push, policy reforms, and continued focus on economic diversification,' said Mohamed Ali Omar, associate at Kamco Invest. In contrast, Saudi Arabia posted a sharp 72.5 per cent year-on-year drop in Q2 contract awards, reaching $9.8 billion compared to $35.6 billion in Q2-2024. Overall, the GCC recorded a steep 58 per cent drop in Q2 contract awards, with total awards falling to $28.4 billion from $67.7 billion a year earlier — the lowest quarterly figure in 14 quarters. The decline was broad-based, with five of six GCC nations posting lower project awards in the second quarter. The slowdown comes after two years of record spending on mega oil and gas developments and over $1 trillion in gigaprojects. According to Junaid Ansari, head of Investment Strategy and Research at Kamco Invest, 'The slowdown is a cyclical correction after an extended period of robust activity. We expect a revival in the second half as several high-value projects enter the execution phase.' In terms of first-half 2025 performance, UAE contracts totalled $44.4 billion, down 12.1 per cent from $50.6 billion in H1-2024. The largest hit was in the construction sector, which saw a 61.6 per cent drop to $4.9 billion. Yet, the gas sector proved to be a bright spot, with $5.3 billion in awards, accounting for 37.6 per cent of the UAE's Q2 total. Among the standout deals was a $400 million three-year LNG supply agreement between Adnoc Gas and Germany's SEFE. Separately, Adnoc Gas announced a $5 billion investment in its Rich Gas Development Scheme, with the first $2.8 billion tranche awarded to UK-based Wood for the Habshan facility. Petrofac and Kent were also awarded major packages for Das Island and Asab-Bu Hasa facilities, respectively. The industrial and chemical sectors in the UAE also showed signs of growth. The industrial sector saw a 35.8 per cent year-on-year rise in Q2 awards, while the chemical sector rebounded with $150 million in new contracts after no awards in the year-ago quarter. Looking ahead, Saudi Arabia's pipeline includes mega projects such as the $80 billion CARE nuclear power reactor and a $10 billion battery energy storage system. These projects are currently in the bidding or FEED (front-end engineering design) stages and are expected to boost contract activity later in the year. As of mid-2025, the GCC's pre-execution pipeline of contracts is valued at approximately $1.73 trillion. Of this, Saudi Arabia accounts for over 50 per cent at $873.2 billion, followed by the UAE at $417.9 billion, or 24.2 per cent. Kuwait ranks fourth with $114.8 billion, or 6.6 per cent of the regional total. Segment-wise, the pipeline includes $586 billion in the design stage, $625.5 billion in the study phase, $133.9 billion in pre-qualification, $106.3 billion in bidding, $162.6 billion in bid evaluation, and $115.2 billion in FEED.
Yahoo
20-06-2025
- Business
- Yahoo
Orion Group announces $100M in new Marine and Concrete awards
Orion Group (ORN) announced new Marine and Concrete awards for a total value of approximately $100M. 'We are proud to be recognized with new contract awards that reflect the trust our partners place in us. These achievements are a testament to the strength of our team, our commitment to the highest safety standards, and the progress we are making in expanding our business development pipeline. Our strong delivery and consistent execution have enabled us to successfully expand our client relationships and Port Tampa Bay is a good example. For many years, we have been their longstanding partner for maintenance dredging and new construction projects. We are pleased to play a role in their expansion initiatives aimed at enhancing the port's capacity and efficiency. In our Concrete business, we continue to see strong demand, supported by the next phase of a large data center project and several projects in our home state. With our strong reputation and robust pipeline, we are well positioned for continued growth,' said Travis Boone, Chief Executive Officer of Orion Group. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on ORN: Disclaimer & DisclosureReport an Issue Orion Group management to meet virtually with B. Riley Orion Group management to meet virtually with Craig-Hallum U.S.-China talks continue, IBM making large-scale quantum computer: Morning Buzz Orion Group price target raised to $11.50 from $9 at B. Riley Orion Group Holdings Appoints New CFO Alison Vasquez Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
21-05-2025
- Business
- Zawya
GCC projects pipeline remains strong despite Q1 dip
Muscat – Following a record-breaking year for project awards, the GCC region is projected to experience another year of robust contracts activity, with the outlook for the GCC project market remaining strong for 2025, according to a new report released by Kamco Investment. Numerous favourable factors across the GCC are expected to support momentum in the project market in 2025. Among these is notable growth in GCC hospitality projects during the year, Kuwait-based Kamco Investment said in its recently released GCC Projects Market report. Overall, GCC countries hold approximately $1.54tn in contracts at the pre-execution stage, with Saudi Arabia accounting for the largest share (52.1%), the report said, citing MEED Projects data. 'A number of these projects are anticipated to be awarded within the next 6–12 months, indicating that 2025 could rival or surpass the award volumes of 2024,' the report noted. 'Roughly 34.3% of these contracts are in the design phase, while about 8.1% are currently under bid evaluation.' Looking at country-specific project pipelines, the report highlighted that Saudi Arabia leads with $801.2bn in pre-execution stage projects, followed by the UAE ($312.3bn), Oman ($169.9bn), and Kuwait ($130.8bn), respectively. According to MEED Projects data, healthcare contracts worth over $3bn are currently out to bid, signalling a strong project pipeline. Saudi Arabia leads with 51% of the total value of the GCC healthcare pipeline in 2025. In comparison, the UAE has $6.8bn in contracts under planning and execution, while Kuwait has $3.6bn in hospitality projects at similar stages. Impact of US tariffs The Kamco Investment report noted that, on the surface, there appears to be no immediate threat of US tariffs impacting the GCC projects market, as most GCC countries have limited trade exposure to the US in both imports and exports. It further stated that the US maintains trade surpluses with five of the six GCC markets, and as a result, a basic tariff of 10% has been imposed. In addition, hydrocarbons – the primary export commodity of GCC nations – are among the goods exempted from tariffs. 'However, declining oil prices, driven by negative global economic sentiment linked to the effects of US tariffs on trade, may have an impact on GCC revenues and, consequently, their project funding capabilities. Reduced oil prices lead to lower government income across the GCC, which in turn may result in reduced spending on projects,' the report added. Contracts decline in Q1 The total value of contracts awarded in the GCC declined after three of the six member countries recorded year-on-year decreases in project awards during Q1 2025. The total value of contracts awarded in the GCC fell by 26.8% year-on-year in Q1 2025, totalling $52.4bn – the lowest figure in the past eight quarters – compared to $71.5bn in Q1 2024. 'This downturn was primarily attributable to a sharp contraction in Saudi Arabia's project awards, despite resilient performance from the UAE, which recorded moderate year-on-year growth. The power and construction sectors were the main contributors to the decline in Qatar, Bahrain, and Saudi Arabia during Q1 2025,' the report said. However, despite the significant year-on-year drop in Q1 2025, GCC project awards are projected to align with 2024 levels. MEED Projects, as cited in the Kamco Investment report, estimates that approximately $235bn worth of contracts are currently tendered or under bid evaluation across the GCC, with Saudi Arabia accounting for nearly two-thirds of this pipeline. On a quarterly basis, Saudi Arabia's total contract awards plummeted by 49.9% in Q1 2025 to $17bn, down from $33.9bn in Q1 2024. In contrast, Kuwait's aggregate project awards surged by 197.6% in Q1 2025, reaching $1.4bn. Meanwhile, the UAE posted an 11.7% increase in contract awards during Q1 2025, totalling $26.1bn, up from $23.4bn in Q1 2024. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
