Tailwinds’ Take: add in the Northern California fires to the list of natural disasters that can drive SG Blocks business. Lumber prices and construction costs are going higher, meanwhile these buildings are tougher against natural disasters, and faster and cheaper to build. I expect demand to skyrocket.
BROOKLYN, NY–(Oct 16, 2017) – SG Blocks, Inc. (NASDAQ: SGBX), a leading designer, innovator and fabricator of container-based structures, has partnered with the largest Verizon Wireless retailer in the United States, Cellular Sales on a prototype 1,600 square foot retail store that will be located in Colorado. The five-module development will be designed for cold weather and is expected to be completed in early 2018.
SG Blocks has also partnered with a Southeast developer to fabricate a new multi-container, module-based system to serve as an event venue in upstate South Carolina. The company is providing 14 modules that will serve as retail and food & beverage venues for the development.
“We are thrilled to announce our latest multi-unit retail projects,” stated Paul Galvin, Chairman and CEO of SG Blocks. “Working with developers across the country, we are continuing to transform the industry through our modular, green building process, which is more efficient than traditional construction.”
Greener and more sustainable construction are becoming more popular in the United States and developers are capitalizing on SG Blocks’ competitive advantage of bringing container-based modules to the mainstream of modular construction. This has been exemplified through SG Blocks’ exclusive ESR number, held by no other container construction company, which insures its ability to meet and exceed all international building codes.
According to a September 15, 2017 Barron’s article, lumber prices in the U.S. and Canada could reach 13-year highs by years end due to increased hurricane activity. SG Blocks’ seismic and hurricane grade module-based systems deliver a scalable solution that reduces time to market, lowers costs and improves quality control and turnkey projects for today’s cost constrained commercial developers.
About SG Blocks, Inc.
SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. For more information, visit www.sgblocks.com.
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While SG Blocks believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the SG Blocks’ filings with the Securities and Exchange Commission (the “SEC”) Thus, actual results could be materially different. SG Blocks expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
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