SGBX stock rose in morning trade on January 20, 2021, after the company announced its Echo Factory expansion back on January 15, 2021.

Rendering of SG Blocks’
 HOTWORKS Building
 addition (Photo: Business Wire)

SG Blocks, Inc. (NASDAQ: SGBX), a leading designer, innovator and fabricator of container-based structures, announced today that in furtherance of its September 2020 acquisition of ECHO DCL in Durant, Oklahoma, a new 10,300 square foot building extension will be used to greatly increase the Company’s capacity for container modifications, reinforcements, and the construction of light gauge steel purpose-driven modules. This additional square footage is the first step in a multi-phased plan to develop the SG Echo manufacturing campus.

“We are happy to increase our production capacity with our new HOTWORKS™ Building addition. We have found both the talent and work ethic to be very strong at SG Echo and we look forward to our continued partnership as we work to meet growing demand,” said SG Blocks Chairman & CEO Paul Galvin.

The original acquisition of ECHO DCL by SG Blocks in September 2020 allowed SG Blocks to vertically integrate a large portion of costs of goods sold, as well as increase margins and productivity in the crucial areas of design and manufacturing.

With this expansion, SG Blocks intends to further utilize the highly skilled labor force available in Durant, OK to meet the needs of major markets, including military, education, administration facilities, healthcare, government, commercial and residential manufacturing. The expansion is expected to help SG Blocks to further specialize and meet the complex needs of its various clients.

“The new space designed by CSHQA will be built using SG Blocks shipping containers, which really speaks to the sustainable and eco-friendly solutions we stand for,” said Jesse Goldman, Architect Principal with CSHQA.

The new expansion will be designed using SG Blocks’ products, technology and ESR number.

“We anticipate a quick turnaround and plan to be operational at the beginning of the second quarter of 2021,” Galvin stated.

SG Blocks is also exploring the prospect of acquiring up to an additional 19 acres at the facility.

Founded in 2007, SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers to design and provide safe, durable and environmentally friendly structures. 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.

finviz dynamic chart for  sgbx

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