Smith-Midland Names Reliance Precast Limited as New SlenderWall Licensee in New Zealand

Rhea-AI Summary

Smith-Midland Corporation (NASDAQ:SMID) has announced a new licensing agreement with Reliance Precast Limited in New Zealand for its SlenderWall architectural cladding system. This strategic partnership aims to penetrate the New Zealand commercial building market with an innovative, lightweight panel system. Full production is expected to commence in Q4 2022, with an initial project already scheduled. This collaboration is set to expand SlenderWall's reach, leveraging Reliance's expertise in real estate and manufacturing.

Positive

• New licensing agreement with Reliance Precast Limited enhances market reach in New Zealand.
• SlenderWall's compliance with building codes may attract more clients in the region.

Negative

• None.

MIDLAND, VA / ACCESSWIRE / May 18, 2022 / Smith-Midland Corporation (NASDAQ:SMID) provider of innovative, high-quality proprietary and patented precast concrete products and systems, today announced, Reliance Precast Limited of Papakura, Auckland, New Zealand,as a new licensed producer of its SlenderWall architectural cladding.

"We were looking to find an innovative way to provide a new lightweight panel system to the New Zealand multi-level / commercial building market, and were drawn to SlenderWall. Obtaining this license was the key strategic piece for advancing this greenfield investment," said Sohan Mittal, Managing Director of Reliance Precast Limited. "Our plant is anticipated to begin full production in the fourth quarter of this year with the first project already scheduled."

"The addition of Reliance to our family of licensed producers provides an excellent opportunity to continue building on the success and reputation of our architectural precast product," said Art Miles, President of Easi-Set Worldwide. "The Reliance management team has extensive experience in real estate development, including construction, precast and light gage steel manufacturing, and they will play a pivotal role in expanding the opportunities for SlenderWall in the rapidly growing New Zealand market."

About SlenderWall
SlenderWall is a high performance architectural precast composite cladding system, fully compliant with current building codes including fire, windstorm, seismic and thermal requirements. The system is licensed for manufacture to qualified precast concrete companies across North America, and internationally, by Easi-Set Worldwide, a leading product line developer in the precast concrete industry.

To learn more about using SlenderWall for your next project, or to schedule a presentation or plant tour contact Smith-Midland at (540) 439-3266, info@smithmidland.com.

About Smith-Midland Corporation
Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products for use primarily in the construction, transportation, and utilities industries. Management and the board own approximately five percent of SMID stock, aligning with shareholder values. Smith-Midland Corporation has three manufacturing facilities located in Midland, VA, Reidsville, NC, and Columbia, SC, and Concrete Safety Systems, our J-J Hooks Safety Barrier rental division.

Easi-Set Worldwide, a wholly owned subsidiary of Smith-Midland Corporation, licenses the production and sale of Easi-Set products, including J-J Hooks and SlenderWall, and provides diversification opportunities to the precast industry worldwide. For more information regarding licensing or sales, please call (540) 439-3266 or visit www.easiset.com.

Media Inquiries:
scrandall@midlandadvertising.com
(540) 439-8056

Licensing & Sales Inquiries:
info@easiset.com
(540) 439-3266

Investor Relations:
Steven Hooser or John Beisler
Three Part Advisors, LLC
(214) 872-2710

SOURCE: Smith-Midland Corporation

View source version on accesswire.com:
https://www.accesswire.com/701799/Smith-Midland-Names-Reliance-Precast-Limited-as-New-SlenderWall-Licensee-in-New-Zealand

FAQ

What is the recent partnership between Smith-Midland and Reliance Precast Limited?

Smith-Midland has licensed Reliance Precast Limited to produce its SlenderWall architectural cladding in New Zealand, starting production in Q4 2022.

When is Reliance Precast expected to begin production of SlenderWall?

Reliance Precast is anticipated to start full production of SlenderWall in the fourth quarter of 2022.

How does the SlenderWall system comply with building regulations?

SlenderWall meets current building codes, including fire, windstorm, seismic, and thermal requirements.

What advantages does SlenderWall offer for commercial buildings in New Zealand?

SlenderWall offers a lightweight and high-performance cladding solution, which is advantageous for multi-level commercial buildings.

What is the stock symbol for Smith-Midland Corporation?

The stock symbol for Smith-Midland Corporation is SMID.