Las Vegas, NV, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Earth Gen-BioFuel Inc. (OTC:EGBB), announces that International Housing Concepts Inc., EarthGen’s subsidiary has opened expanded production with a Manufacturing Facility in Salem Oregon.
Earth Gen-Biofuel Inc. (“EarthGen”) is responding to market interest in ”System Built” Park Model Homes, with opening new facilities in Salem, Oregon in preparation to expanding our production capacity to 600 homes annually. Park Model Homes are factory built homes that appeal to a broad spectrum of home buyers. This type of housing unit has become increasingly more desired by developers, resort owners, retirement living communities that are looking to enhance their properties. The retail price for a Park Model Home generally exceeds $80,000 per home. The Company’s new facility is planning to start shipping homes during the fourth quarter this year to fulfill committed orders. As the Salem production facility follows it production plan, output is expected to exceed fifty percent of capacity within the next six months.
EarthGen is also moving the corporate offices of International Housing Concepts, the Company’s wholly owned subsidiary, to the Salem location in order to streamline Park Model Home manufacturing operations. The move will help the Company prepare for planned additional plant openings in other parts of the U.S. in the next six months. The Company is using the Salem 70,000 square foot production facility as a blueprint for production and distribution systems to serve markets across the country.
Mr. Robert Hayes, President & CEO stated, “The new facility is positioned to respond to market demand and fill the growing demand in the Park Model Home sector. International Housing Concepts operations will be a substantial component of our business model while also providing a platform for the introduction of our innovative materials and systems”.
About Earth Gen-BioFuel inc.
Earth Gen-Biofuel Inc. is basing its manufacturing facilities in the U.S. and addressing domestic needs for affordable housing solutions for a broad segment of the market. The Company’s goal is to deliver high quality low cost dwelling units that employ technology that works for owners of our homes and meets the requirements of sustainability for our environment and the locations where our units form new communities. Please visit our web site at www.egbb.world.
This press release may contain “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In accordance with the safe harbor provisions of this Act, statements contained herein that look forward in time that include everything other than historical information, involve risks and uncertainties that may affect the Company’s actual results. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance. Further caution is given as the Company is not current with its public disclosures and limited information about the Company’s financial condition or operations is available to investors adding additional risk to potential investors.
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