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Auscrete Corporation ASCK gearing up for affordable concrete housing construction.

/EIN News/ -- Rufus OR, March 28, 2017 (GLOBE NEWSWIRE) -- Auscrete Corporation “ASCK” management are elated about current developments the company has achieved since late last year on facilitating the advancement of their manufacturing and administration campus. Pressure is being exerted on the company by a number of developers and contractors to supply homes for housing estates and spec homes as the inventory of quality affordable and contract homes within the company’s commercial reach, and elsewhere, is tenuous at best,

Company representative, Lee Odom said “Now that the funding process for the Oregon Main Office and Production Plant is behind us and, along with the land acquisition, and designs for both the 25,000-sq. ft. production and the 18,000-sq. ft. support services buildings is complete, we can move forward expeditiously. When Building Codes approval is ultimately received, contractors will commence pouring the concrete foundations and building construction can begin”.

“Obviously, it will take around 6 months before we start producing our building materials for housing construction” said Mr. Odom “but that will not be such a long time and, in the knowledge that we will immediately be under pressure to produce, we expect our first-year of operations to be eminently profitable”.

Auscrete products are fully developed high efficiency building materials that were fully tested and widely used on residential and commercial construction ventures before Auscrete temporarily ceased production during the recent housing recession. This prompted Auscrete to become a public corporation to achieve public funding and recommence its operations.

The company, in 2016, contemplated involvement in semi-related and financial ventures but the complexity of such endeavors convinced management to concentrate fully on their core product manufacturing for building construction. They had considered various funding measures before finally settling into a loan facility that allows Auscrete to focus initially on development of its US facilities.

Management further decided to concentrate on its core market, being the materials and construction of Affordable Housing. This is a gaping hole in the US marketplace as very many people cannot afford to buy a home. Auscrete’s mass production techniques have enabled the construction of solid concrete site built homes that can survive intense weather conditions and are exceptionally efficient, won’t burn and are impervious to insect infestation. Typically, they are built for around $100 per sq. ft. complete turnkey.

During 2016, Auscrete also entered into agreement to set up a plant in Jamaica for the construction of 1,500 homes in that country’s NW. Auscrete is still pressing forward on that venture and, although it will be owned by the company, it will be funded separately to the domestic enterprise. The longer term will also see Auscrete build a 300 room Destination Hotel and Resort on the beachfront property allocated to the undertaking. The Principals have explored numerous funding proposals for this venture and with the initial investment of $16 million, consideration is being closely reviewed as debt service on this size of indebtedness is considerable.

Mr. Odom concluded that “with the low volume of shares in our company’s float, we believe this is a great opportunity for our investors to see excellent short and long term returns”.

Auscrete Corporation

Investor Relations - Lee Odom /IR Spokesperson 305 853 8404 – lee@auscretehomes.com
www.auscretehomes.com

Safe Harbor: Statements in this press release may constitute forward looking statements and are subject to risks and uncertainties. As like all investments, the company’s future capital needs could be affected, the lack of market demand for any new or enhanced projects the company may develop. The actual results may differ materially from those in this press release. The company disclaims any obligation to update any statements contained in this press release.

Auscrete Corporation

Investor Relations - Lee Odom /IR Spokesperson 305 853 8404 – lee@auscretehomes.com 
www.auscretehomes.com

Safe Harbor: Statements in this press release may constitute forward looking statements and are subject to risks and uncertainties. As like all investments, the company’s future capital needs could be affected, the lack of market demand for any new or enhanced projects the company may develop. The actual results may differ materially from those in this press release. The company disclaims any obligation to update any statements contained in this press release.

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Distribution channels: Building & Construction Industry