CEMATRIX Corporation Announces Renewed Lafarge Commitment
CALGARY, Alberta, Jan. 23, 2018 (GLOBE NEWSWIRE) — CEMATRIX Corporation (TSXV:CVX) (the “Corporation” or “CEMATRIX”) announces that Lafarge Canada Inc (“Lafarge”) has re-affirmed a strengthened commitment to CEMATRIX, including “increased sales and marketing support” for the development of cellular concrete markets across Canada.
“It’s important to note for our investors that the Lafarge/CEMATRIX agreement is a clear indication of Lafarge’s belief in the substantial potential of cellular concrete and the mutual benefits that can accrue to both parties,” stated Jeff Kendrick, CEMATRIX President and CEO.
“The overall objective of the agreements for both parties continues to be to work together to increase sales of cellular concrete, which in turn results in the sale of more cement and ready mix products for Lafarge. Although the joint efforts did not generate a significant number of new sales in 2017, both parties believe that we accomplished a great deal together, in the education of the market and Lafarge’s significant staff across Canada on the uses and benefits of Cellular Concrete. We also learned that the regional approach, although successful, has not worked as intended, but that recent changes to that program by both parties, should generate even stronger results, and become a model for expansion into other regions across Canada.”
This continued commitment from Lafarge was stated in a recent letter to CEMATRIX from Lafarge. A few of the excerpts from this commitment letter are as follows:
|As 2018 begins, I’d like to take the opportunity to reflect on the Lafarge/CEMATRIX relationship in 2017. Foremost, Lafarge remains committed to our Joint Marketing and Regional Expansion Agreements struck in 2016 and 2017 respectively. We have now completed another valuable year of learning together about the implementation mechanisms for those agreements.|
|Furthermore, the co-development of the Prairie Region remains a priority. Changes for 2018 will include increased sales and marketing support as well as support for the hiring of a dedicated salesperson for this region. The continued successful development of this region will then become a model for expansion to other regions in Canada.|
|While 2017 did not deliver the intended financial results, Lafarge is pleased with the growing strength and breadth of our relationship. This foundation is key to a win-win partnership in 2018.|
This is very good news for CEMATRIX, as is the fact that contracted and verbally awarded projects for 2018 are now approximately $10.9 million, of which approximately $4.8 million are under contract. This is 48% ahead of the same time, the previous year.
CEMATRIX is an Alberta corporation with its head offices in Calgary, Alberta. The Corporation, through its wholly owned subsidiary, is a rapidly growing company that manufactures and supplies technologically advanced cellular concrete products developed from proprietary formulations. This unique cement based material with superior thermal protection, delivers a cost-effective, innovative solution to a broad range of problems facing the infrastructure, industrial (including oil and gas) and commercial markets.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Jeff Kendrick – President and Chief Executive Officer
Phone: (403) 219-0484
Jeff Walker, The Howard Group – Investor Relations
Phone: (888) 221-0915 or (403) 221-0915
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 November 16, 2017 under CEMATRIX’s profile on SEDAR at www.sedar.com and other reports filed by CEMATRIX with Canadian securities regulators.