SG Blocks Selected to Design and Construct New Container-Based Office Facilities for the U.S. Navy
Leading Innovator of Container-Based Structures to Deliver Office Modules by the End of 2018
BROOKLYN, N.Y.--(BUSINESS WIRE)-- SG Blocks, Inc. (NASDAQ: SGBX), a leading designer, fabricator and innovator of container-based structures, has been selected to design and construct new container-based office facilities for the U.S. Navy, representing an estimated revenue opportunity of $2.2 million in 2018. The office modules, will be prefabricated and delivered by the end of the year and the Navy will utilize the facilities at various locations in Portsmouth, Virginia both ashore and afloat.
“SG Blocks has a longstanding relationship with the U.S. Navy and we are delighted to extend our design and construction reach into office modules,” stated Paul Galvin, Chairman and CEO of SG Blocks. “Utilizing our container-based method of construction, we are able to quickly design, prefabricate and deliver projects. This saves money for the Navy and uses our sustainable, eco-friendly method of construction.”
Founded in 2007, SG Blocks utilizes code-engineered cargo shipping containers to construct and provide safe, durable and environmentally-friendly structures. It has an exclusive ESR number, which was granted by the International Code Council and ensures its ability to meet and exceed all international building codes. Clients have included Starbucks, Marriott, Taco Bell, Aman, Equinox and several branches of the U.S. military.
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. Each project starts with GreenSteel™, the structural core and shell of an SG Blocks building, and then customized to client specifications. 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 SG Blocks' filings with the Securities and Exchange Commission. 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.
Source: SG Blocks, Inc.
Released September 6, 2018