PEI Worldwide Holdings, Inc. Receives Approval to Manufacture THURA-Block in Canada, Signs Agreement to Construct up to 7 Manufacturing Facilities in Canada
PLANO, Texas, April 8 /PRNewswire-FirstCall/ — PEI Worldwide Holdings, Inc. (Pink Sheets: PEIW) announced today that the company has been diligently working with our Canadian licensee for over one year and there is now a signed agreement to place up to seven THURA-Block manufacturing plants throughout Canada. Our customer will have exclusivity for the entire country with plants to be located in Toronto (2), Calgary, Quebec, Vancouver, and two cities not yet named. It is expected that each operating location could generate approximately 6 to 9 cents of earning per share for the company per location. In total, with all 7 locations up and fully operating, this agreement could generate 42-63 cents per share of earnings. Additional details regarding the specifics of the construction and location will be disclosed at a later date.
This registration and approval process was necessary to undertake because Canada does not readily accept US building certifications. Their codes called for detailed inspection and discussion of THURA-Block being used not only for above grade construction but also below grade for basements. It was then necessary to choose a below grade moisture barrier which was suitable for fifty (50) plus years. The combined cost of THURA-Block, moisture barrier and installation totaled less than their normal poured concrete basement walls, but with THURA-Block, the basements would be dry, without moisture seepage, no “musty” smell and no cracking and leaking after ground settling. Additionally, Canada could now construct basements 12 months a year rather than 9-10 months due to the cold weather conditions.
Gifford Ludwigsen, President and CEO of PEI states, “It has been a long trial period for both Canada and PEI Worldwide Holdings but it has mostly been a growing experience with very positive results. We look forward to adding our INSU-Lite Panel to the Canadian list of building materials and to watch THURA-Block become the choice of constructing Canadian homes and commercial buildings.”
About PEI Worldwide Holdings
PEI Worldwide Holdings, an innovative construction product development company, brings a proprietary, high profit margin, light weight, insulating building block technology to the only growing segment in the construction industry, the $36 billion “green” building marketplace. These extremely high R value insulating building products are so cost competitive that they will be one of the only LEED certified “green” products that can effectively compete with traditional building methods such as wood frame and concrete.
Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
Contact: Gifford Ludwigsen President & CEO PEI Worldwide Holdings, Inc. 1-254-214-5523
SOURCE PEI Worldwide Holdings, Inc.