NEW YORK – SG Blocks, Inc., a leading designer, innovator and fabricator of container-based structures, announced Monday that it has entered into contract to acquire an additional manufacturing facility in
anticipation of rising demand for internal and external projects. The facility is located in
Durant, Okla., and will add to the Company’s manufacturing capacity.
“We are pleased with our experience in Oklahoma and in the Durant Community,” said Paul Galvin, SG Blocks Chairman and CEO. “Our desire to expand here is based upon our satisfaction with the spirit and quality of the workforce. As we continue to grow and earn further new business, we have been fortunate to meet that growth with the proper facilities in Oklahoma and elsewhere.”
The space is approximately 55,000 square feet and sits on approximately seven acres of land in Durant Industrial Park. The facility is adjacent to the regional airport. This will serve as the second facility that SG Blocks has obtained, since recently adding the original SG Echo factory.
The new facility will allow SG Blocks to run two additional production lines in parallel to support
SGB DevCorp as well as SG Echo in tandem.
The Company had previously announced it intended to exercise its option to acquire the existing
19-acre site and all of its structures from ECHO DCL, LLC with closing to occur in the second
quarter of 2021. The Company has decided not to move forward with the option at this time and will continue to lease the original ECHO plant under the 5-year lease term. The Company will redeploy capital allocated for the original ECHO DCL real estate purchase into the newly acquired facility.
“We believe redeploying the capital allocated for the original ECHO DCL real estate purchase into
the newly acquired facility provides better value for us and look forward to having additional
lines coming on board to support demand. We have found a capable and enthusiastic workforce as we
look to deliver safe and green structures across the country,” Bill Rogers, COO of SG Blocks said.
The Company expects to announce the closing of the contract in August 2021.
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 is customized to client specifications. For more information, visit www.sgblocks.com.