SGBX - Sg Echo Awarded Record $11.3 Million Purchase Order to Supply Modular Units to Long-Standing Private Infrastructure Solutions Client | Benzinga
New contract with recurring customer represents largest single order to date; reflects Company's track record of quick, sustainable, and cost-efficient production
Project to commence immediately and expected to be completed during the first half of 2024
SG Echo Manufacturing Facility
MIAMI, FL, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ:SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular structures, announced today that SG Echo, LLC, a wholly-owned subsidiary of Safe & Green Holdings Corp., today announced it has been awarded a purchase order to provide over 150 additional modular units to an existing infrastructure solutions customer. The purchase order is expected to generate revenue of approximately $11.3 million, commencing immediately and continuing over the next six months.
This order is in addition to another recent follow-on order for 40 units with the same customer, as previously announced on October 30, 2023. The Company anticipates the order will utilize a significant portion of its remaining capacity across its two operational manufacturing facilities.
Paul Galvin, Chairperson and CEO of Safe & Green Holdings, commented, "This record order from a recurring customer is a strong validation of our ability to provide high-quality units quickly, sustainably, and cost-efficiently. This contract will not only generate meaningful revenue but also provide attractive margins. Importantly, the project is slated to commence immediately, and ...