ADF Shares Surge on New U.S. Steel Contracts

Dow Jones06-30

ADF Group's shares rallied after the Canadian company lined up 127 million Canadian dollars (US$89 million) of new contracts for various steel structures and heavy steel components.

Shares were up 17% at C$17.60 in late morning trading on Tuesday, widening the year-to-date advance to 91%.

The new contracts are each in the U.S., with the largest in value for the fabrication of a large surface building in the Midwest region.

The other projects include a contract for the fabrication of various steel structures and heavy steel components as part of a project to rehabilitate transportation infrastructure in a major metropolis area in the Great Lakes region, ADF said, as well as contractual changes to a deal announced in recent months.

ADF's plants in Terrebonne, Quebec, and Great Falls, MT., will be used to complete the projects. All are set to be completed by the end of 2028.

The company has signed more than C$280 million of new contracts in Canada and the U.S. since the start of its fiscal year. ADF's order backlog reached C$645.8 million by the end of April, excluding the new projects.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

June 30, 2026 11:39 ET (15:39 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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