CORAL SPRINGS, Florida, June 4, 2014 /PRNewswire/ --
Home Improvement Retailers and Lumber-Industrial Goods Companies in the building products sector see advancement in operations with increased capital and planned expansions: Eco Building Products, Inc. (OTC: ECOB), The Home Depot, Inc. (NYSE: HD), Lowe's Companies Inc. (NYSE: LOW), Weyerhaeuser Co. (NYSE: WY) and Louisiana-Pacific Corp. (NYSE: LPX)
Eco Building Products, Inc. (OTC Pink: ECOB), a manufacturer of treated wood products that are protected against fire, mold/mycotoxins, fungus, rot-decay, wood ingesting insects and termites by our proprietary eco-friendly WoodSurfaceFilm™ and FireResistantCoating™ technology (collectively "Eco Red Shield™"), today announced it has entered into definitive agreements for up to $3.4M in financing to support filling a backlog in purchase orders from Major Big Box Customer and to increase production capacity at its manufacturing facilities stemming from a growing demand for Eco Red Shield treated lumber at its Major Customer following a successful Second Pilot commercial launch program.
Under the terms of the agreements, the Company will receive up to $1.4M in capital in equal installments of $350,000 over the next four months, to support the filling of backlogged orders and meet increasing demand for Eco Red Shield, with the goal of reaching sales of $1.5M in the fourth month, which will potentially put the Company in a cash flow positive position. Concurrently, the Company received equity financing of $800,000 in two tranches to support the expansion in production capacity at its core manufacturing facilities from $750,000 in production capacity per month to $2,000,000 per month, as well as retire approximately $300,000 in convertible debt financing previously entered into on unfavorable terms. In addition, the Company will enter into an expandable revolving credit facility agreement for $1.2M to support its supply chain that will allow the Company to confidently increase its marketing efforts and demonstrate long term sustainability to its Major Big Box Customer.
To read the full ECOB press release, please click here:http://fnmprofiles.com/profiles-ecob.html
"This funding represents a transformational milestone for the Company from a revenue growth and sales trajectory standpoint," said Steven Conboy, President & CEO of Eco Building Products. "We now have the capital needed to meet a recent dramatic increase in demand for Eco Red Shield from our Major Big Box Customer, who is now in a position to begin aggressively marketing our product to its massive customer base as an optimized solution to meet key unmet needs in the $60B North American lumber industry. We have positioned ourselves extremely well to meet an expected continued surge in demand for fire-resistant and mold-resistant lumber in the new construction industry, especially in light of recent wildfires in San Diego County and mold-related housing condemnations following Hurricane Sandy in New Jersey and Long Island. We believe Eco Red Shield has the potential to replace existing entrenched chemical products in the wood treatment industry, with the potential to reach over $1B in sales."
The Home Depot, Inc. (NYSE: HD) operates as a home improvement retailer. The Home Depot stores sell various building materials, home improvement products, and lawn and garden products as well as provide installation, home maintenance, and professional service programs to do-it-yourself, do-it-for-me, and professional customers. The company offers installation programs that include flooring, cabinets, countertops, water heaters, and sheds, as well as act as a contractor to provide installation services to its do-it-for-me customers through third-party installers. On Tuesday (06/03/2014), HD closed up .37% on over 5.4 million shares traded.
Lowe's Companies Inc. (NYSE: LOW) announced the release of its 2013 Corporate Social Responsibility (CSR) Report, providing a snapshot of Lowe's progress during the past fiscal year in promoting the well-being of its employees, its communities and the environment. The report can be viewed on the company's newly redesigned and enhanced CSR website at Lowes.com/SocialResponsibility. The theme of the 2013 report is "A Call to Serve." For nearly 70 years, Lowe's has served communities by doing much more than selling products. The 2013 report highlights the recent work Lowe's has done to improve people's lives and the places they call home.
Weyerhaeuser Co. (NYSE: WY) announced that it has commenced its exchange offer related to the split-off transaction of its homebuilding business, Weyerhaeuser Real Estate Company ("WRECO"). The exchange offer is in connection with the "Reverse Morris Trust" transaction, previously announced on November 4, 2013, pursuant to which a wholly owned subsidiary of TRI Pointe Homes, Inc. (NYSE: TPH) ("TRI Pointe") will merge with and into WRECO, with WRECO surviving the merger and becoming a wholly owned subsidiary of TRI Pointe. The exchange is expected to be tax-free to participating Weyerhaeuser shareholders for U.S. federal income tax purposes.
Louisiana-Pacific Corp. (NYSE: LPX), together with its subsidiaries, manufactures and sells building products for new home construction, repair and remodeling, manufactured housing, and light industrial and commercial construction. The company's Oriented Strand Board segment offers structural panel products, including plywood, such as roof decking, sidewall sheathing, and floor underlayment. Its Siding segment provides SmartSide siding products and related accessories comprising wood-based sidings, trim, soffit, and fascia; and Canexel siding and accessory products consisting of pre-finished lap, and trim products. On Tuesday (06/03/2014), LPX closed down 1.05% on a volume of over 3.1 million.
FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services. If you would like more information regarding our news coverage solutions, please visit http://www.financialnewsmedia.com for more details. Get an edge on the market with our Premium News Alerts that are FREE for a limited time at http://www.financialnewsmedia.com/. Follow us on Facebook: http://www.facebook.com/financialnewsmedia and Twitter: http://twitter.com/FNMgroup.
DISCLAIMER: FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNMG is NOT affiliated in any manner with any company mentioned herein. FNMG and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNMG has been compensated one thousand four hundred dollars for news coverage of the current press release issued by Zoned Properties, Inc. by the company.
FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.
SOURCE FN Media Group LLC