US-based Auscrete (OTC: ASCK), a building materials manufacturing company, this morning announced that it is finalizing plans to set up a production plant near London, ONT with a Canadian investment group. The Canadian-based facility, which will be similar to the company’s WA head office facility, will be 75 percent owned by Auscrete. The Canadian investment group will hold the remaining 25 percent interest in the facility. Spiro Sapounas, head of the Canadian investment group, has met with the State and Federal Governments as the facility may be eligible to receive financial involvement and assistance. “Based on the conservative model of projections for this facility with a 12-month production level of 300 homes, Annual Revenues of $45 million is expected. Also, those conservative estimates are based on 1,500 sq. ft. homes whereas most are above that average, so in reality, that number could be higher depending on the demographic region,” ASCK spokesman Lee Odom stated in the news release.
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About Auscrete Corporation
Auscrete Corporation is a building materials manufacturing company and constructor of “GREEN” energy efficient housing and commercial structures built from Auscrete developed lightweight hybrid concrete/insulation wall and roof panels. Structures built of this medium have very low maintenance needs and, being concrete, are highly resistant to insects and mold. They have considerable mass and are highly resistant to hurricane forces and earth tremors. They will not catch fire and burn. Auscrete is planning to establish their Flagship Facility in Goldendale, WA. Follow all the updates regarding the launch of the flagship facility at www.AuscreteBlog.com.
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