SG Blocks Executes Purchase Order for Tyndall Florida Governmental Project
SG Blocks, Inc. (NASDAQ: SGBX) has announced a significant purchase order from a privately held client for a governmental project in Tyndall, Florida. The project, comprising 20,560 square feet, is expected to complete in Q2 2021 and expands SG Blocks' portfolio of military projects. The company is recognized for its innovative use of code-engineered shipping containers, catering to a diverse client base including military and retail clients. CEO Paul Galvin emphasized the company's commitment to providing durable structures for military use.
- Secured a significant purchase order for a 20,560 square feet government project.
- Project completion expected in Q2 2021, enhancing project portfolio.
- Continues to serve U.S. Military clients with specialized shipping container structures.
- Project completion timeline is contingent on several factors and may be subject to delays.
- Dependence on government contracts may expose the company to market volatility.
SG Blocks, Inc. (NASDAQ: SGBX) (“SG Blocks” or the “Company”), a leading designer, innovator and fabricator of container-based structures, announced today the execution of a significant purchase order from an existing privately held client completing a governmental project in Tyndall, Florida.
The project consists of 20,560 square feet and is expected to be completed in the second quarter of 2021. This modular unit adds to the comprehensive portfolio that SG Blocks possesses of governmental and military projects.
“As a team, we have always collectively been proud of serving our clients in the U.S. Military,” Paul Galvin, Chairman and CEO noted. “We respect those who serve very much, and we’re pleased to continue to provide best-in-class shipping container structures, designed with versatility in mind for the numerous ways in which our military clients use them.”
Founded in 2007, SG Blocks utilizes code-engineered cargo shipping containers to design 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 various retail clients, some including Starbucks, Marriott, Taco Bell, Aman, Equinox, several branches of the U.S. military, and most recently, advances into the travel and healthcare space with hospitals and airports.
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.
Safe Harbor Statement
Forward-Looking Statements 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. These forward-looking statements are based upon current estimates and assumptions and include statements regarding completing the project in the second quarter of 2021. 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 subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to complete the project in Tyndall, Florida, the Company’s ability to deploy its COVID-19 solutions as planned, the Company’s ability to position itself for future profitability, the Company’s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
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