NEW YORK, June 12, 2014 (GLOBE NEWSWIRE) -- SG Blocks, Inc. ("SG Blocks") (OTCQB:SGBX), a premier innovator of construction solutions utilizing code-engineered cargo shipping containers, and ConGlobal Industries LLC ("ConGlobal"), North America's largest full service supplier to the intermodal industry and leading retailer of new and used containers, today announced the renewal of their exclusive Collaboration and Supply Agreement through May 2024.
"ConGlobal is excited to renew our exclusive agreement with SG Blocks to provide innovative building solutions that are environmentally friendly, faster to construct and less expensive than traditional building methods. SG Blocks is the clear first mover and innovator in green, modular construction and the clear partner of choice for ConGlobal," said Mike Baldwin, President of ConGlobal.
"The professionalism, expertise and geographic reach of ConGlobal cannot be matched by anyone in the industry and ensures that SG Blocks construction projects can be created and installed anywhere in the world. The ConGlobal team and reach propels SG Blocks growth and the adoption of container-based structures into the mainstream of construction. With first mover advantage and the most abundant supply of inventory, governments, companies and individuals are seeking reliable, responsible and reasonably priced solutions for development creating enormous opportunities for the SG Blocks and ConGlobal partnership," said Paul Galvin, CEO of SG Blocks.
As part of their partnership, SG Blocks will open a West Coast office at ConGlobal's headquarters in San Ramon, CA.
About SG Blocks:
SG Blocks is a premier innovator of green commercial and private structures utilizing recycled code-engineered cargo shipping containers. Servicing some of the world's biggest companies and government agencies, SG Blocks produces cost effective container-construction technology that exceeds standard building code requirements. SG Blocks partners with developers, architects, builders and owners worldwide to achieve faster execution, stronger high-value buildings, and greener construction. For more information, visit www.sgblocks.com.
About ConGlobal:
ConGlobal is North America's largest full-service supplier to the intermodal industry, providing depot and CY services, equipment sales, repair, maintenance, storage, redistribution and transportation services. ConGlobal is also a leading retailer of standard and modified equipment in new and used condition to consumers, corporations, government and military institutions. Built around 30 locations in the U.S., Mexico and Costa Rica, ConGlobal is a wholly owned subsidiary of In-Terminal Services LLC (ITS), a leading provider of rail intermodal terminal services, which is majority owned by Carlyle Group. For more information, visit www.cgini.com.
Cautionary Note Regarding Forward-Looking Statements:
Information in this press release that involves the expectations, plans, intentions or strategies of the Company regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. In this release, they are identified by references to dates after the date of this release and words such as "will," "remains," "to be," "plans," "believes," "may," "expects," "intends," and similar expressions. Factors that could cause the Company's actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, but are not limited to, the timing and successful completion of the engagement. The forward-looking statements in this release are based upon information available to the Company as of the date of this release, and the Company assumes no obligation to update any such forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and may cause actual results to differ materially from our current expectations.