08:23 AM EDT, 10/29/2025 (MT Newswires) -- ADF Group ( ADFJF ) on Wednesday said it aims to double LAR's order backlog by the end of 2027, up from $104.5 million as of July 31, 2025, citing the economic outlook and plans to leverage expected operational synergies between the two companies.

"To support the anticipated growth, substantial investments will need to be made at LAR's fabrication plant located in Metabetchouan, in the Saguenay-Lac Saint-Jean region, Quebec," said the company in a statement. "With its extensive experience and recognized for its operational excellence, LAR will benefit from these investments, which should generate operational efficiencies that reflect ADF's approach to maintaining leadership in fabrication equipment and work methods."

ADF and LAR plan to increase the fabrication capacity and modernize the equipment. The company plans to invest over $35 million at LAR's main plant in Saguenay-Lac Saint-Jean over the next two years.

Construction of new buildings is expected to begin in April 2026 in order to be able to receive new equipment by December 2026.

"As previously mentioned, we are convinced that this transaction will create significant synergies between ADF and LAR and will have a positive contribution to ADF's net results, and will diversify ADF's offer where U.S. tariffs threats are concern, while, maintaining 200 well-paying jobs in the greater Saguenay-Lac Saint-Jean region, and even growing this number," said ADF group chief executive Jean Paschini.

A conference call with investors will be held on Oct. 29, at 10 a.m. (Montreal time) to discuss the acquisition of LAR Group.

Shares of the company closed up 1.1% to $7.32 on Tuesday on the Toronto Stock Exchange.