VISTA, Calif., July 30, 2015 /PRNewswire/ -- Eco Building Products, Inc., (OTC: ECOB) announced today that the Company's new Management Team had taken steps to rationalize its product line in order to drive focus and cohesion across its operations and simplicity of the Company's messaging in the marketplace. The Company is reformulating the recipes of its core suite of products as follows:
- Red Shield AFL (Advanced Framing Lumber) protects wood products from fire, mold, termites and wood rot.
- Red Shield FT (Fire treated) offers Class A fire protection for Douglas Fir dimensional lumber.
- Red Shield SP (Sill Plate) meets Building Code requirements for fungal decay and termite resistance per ICC-ES ESR #3255 with value added mold protection.
"Upon joining the Company it became readily apparent to me that we needed to limit our focus and attention to those things which have the best potential to drive positive results, the fastest. This pertains to products as well as activities," said Tom Comery, Eco's new President and CEO. "The Team had little difficulty narrowing our product line to a core suite of defensive products that we believe will resonate with our customers and at price points that the market will bear." Mr. Comery went on to add that, "part of the exercise was to better understand our prospective customers, potential competitive products and most importantly, minimum acceptable margins required to give our shareholders an attractive return on their investment. We recognize that not every application requires every protection."
"The new focus and discipline affords me more time in the lab over the past six weeks than I had in the previous six months before Tom's arrival," said Mark Vuozzo, Eco's Chief Technical Officer. "Our chemistry lends itself to many potential product line extensions, so many in fact that the possibilities led us to take our eyes off the ball and lose sight of our primary objective which is to generate profitable revenue now." Mark went on to add, "More than at any other time in my tenure at Eco, I have the support and platform to develop what we believe will be new, breakthrough products in a very specific, disciplined manner."
About Eco Building Products, Inc.
Eco Building Products, Inc. (Eco) is a manufacturer and coater of proprietary, environmentally responsible chemistry utilizing ECOB WoodSurfaceFilm™ and FRC™ technology (Fire Retardant Coating). Eco's products protect against fire, mold/mycotoxins, fungus, rot-decay, wood ingesting insects and termites. Eco is headquartered in Vista, CA and has operations in Tacoma, WA, Fairlawn, NJ and now Augusta, GA.
Safe Harbor Statement: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. ECOB takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties.
SOURCE Eco Building Products, Inc.