Rufus, OR, Dec. 13, 2016 (GLOBE NEWSWIRE) -- Auscrete Corporation has recently received lucrative Affordable Housing construction proposals within the US from Oregon, New Mexico, Nevada and Texas to construct multiple homes on tracts of residential land with as many as 400 units in one estate.
An Auscrete spokesman has confirmed that the company is concentrating its efforts on developing a network of materials manufacturing facilities initially in the North and South West to address the emerging market for affordable housing in these areas.
Mr. Lee Odom, IR spokesperson for Auscrete explained that “during 2016, the company had researched developing other ventures such as a resort in the Poconos and Joint Ventures in Financial Institutions out of Britain wanting to have a US base. These looked good at the front end but when we drilled down, there were many shortcomings like limited expansion capacity in the resort and miles of compliance needs and paperwork for the financial undertaking. The company has decided to concentrate on its core of energy efficient housing technology and its substantial market”.
Auscrete has recently been evaluating land for its Oregon Campus and production plant and has settled on approximately 10 acres of industrial land in their hometown not far from their original pilot production plant. The purchase is going into escrow and it is expected that earthworks will commence in January with an expected completion date around next May. At that point, production of materials will commence and construction of 135 site built homes on a local residential estate will ensue. A total of 50 planned new jobs will also be a welcome benefit for the area.
Upon reaching production in that plant, Auscrete will immediately commence construction of a plant in New Mexico that can cover the Southwest. It is expected that the NM facility will come on line by next November. Each plant has the capacity to produce 100 homes per year that would produce $30 million in revenues for both facilities per year. Alabama will likely be the third plant proposed to follow.
While the company is still awaiting completion of their Jamaican Venture investment package from European Investors, company management has acquired funding and commitments from local investors to enable this US enterprise to materialize. Management has commenced acquisition of additional plant and equipment, much of which is specially built production machinery, so the plant can start producing as soon as the production buildings are complete.
Auscrete Corporation Investor Relations - Lee Odom /IR Spokesperson 305 853 8404 - eleeodomjr@gmail.com Corporate Business - John Sprovieri / CEO 541 739 8298 - john@auscretehomes.com www.auscretehomes.com Safe Harbor: Statements in this press release may constitute forward looking statements and are subject to risks and uncertainties. As like all investments, the company’s future capital needs could be affected, the lack of market demand for any new or enhanced projects the company may develop. The actual results may differ materially from those in this press release. The company disclaims any obligation to update any statements contained in this press release. ###
