LAS VEGAS, NV / ACCESSWIRE / January 4, 2024 / Echo Defense Projects Inc. ("ECDP"), a leader in sustainable infrastructure innovation and formerly known as Eco Depot Inc., (OTC PINK:ECDP), today announced the acquisition of CCT, a Mexican construction firm established in 2003. This acquisition marks a significant expansion of ECDP's capabilities and reach.
This strategic acquisition is poised to complement ECDP's product offering, particularly benefiting its Eko Pave product line. These products resurface existing concrete and asphalt roads, extending their life span for up to 20 additional years. CCT, known officially as Compañía Constructora de Tijuana S.A. de C.V., showcases a strong financial performance in the construction industry with $62 million USD in revenues from January to October 2023 (Unaudited). Over this period, the company generated a gross profit margin of 46.4% and an EBITDA of $6.9 million USD (Unaudited).
José Alejandro Moya Riezco, General Manager and CEO of CCT, expressed enthusiasm about the acquisition, stating, "We are thrilled to join forces with Echo Defense Projects. The integration of Eko Pave technology within our operations is a game-changer. It's not just an advancement for our company but a leap forward for the industry. We anticipate that this cost-effective technology will significantly lower infrastructure expenses worldwide, propelling a dramatic increase in our revenues."
Under the terms of the Stock Purchase Agreement dated December 11, 2023, ECDP acquired 100% of the issued and outstanding capital stock of CCT. The total purchase price was 110 million newly issued shares of ECDP common stock.
" CCT's impressive track record and financial performance align perfectly with our growth strategy," said Hadelin Carlos Diericx Trouyet, CEO of Echo Defense Projects Inc. "This acquisition is not only a significant revenue add for Echo Defense, but also underlines our dedication to advancing eco-friendly infrastructure solutions globally. Additionally, our acquisition of Grupo CCT will allow us to expand and implement our Eko Pave product line at an unprecedented pace."
CCT's 2022 revenue of $42 million USD and continued growth through 2023 is a testament to their leadership in the construction sector. This financial strength will augment ECDP's mission to provide cost-effective, sustainable alternatives for infrastructure development.
Echo Defense Projects Inc. is committed to maintaining the highest standards of environmental, social, and governance principles, and this acquisition is expected to provide synergistic benefits by integrating CCT's operational excellence with ECDP's innovative Eko Pave solutions.
For more information about Echo Defense Projects Inc. and the acquisition, please visit www.ecdp.co.
About Echo Defense Projects Inc.:
Echo Defense Projects Inc., formerly Eco Depot Inc., is a publicly traded company offering investments, funding, and support for acquisitions and startups aimed at disrupting their industries. With a keen focus on sustainable innovation, ECDP is dedicated to providing eco-friendly solutions that contribute to more resilient infrastructure and a healthier planet.
About Compañía Constructora de Tijuana S.A. de C.V. (CCT):
CCT is a distinguished construction company based in Mexico, known for its substantial contribution to infrastructure development and its commitment to quality and sustainability. With numerous successful projects and a consistent financial performance, CCT stands as a leading entity in its sector.
Safe Harbor Statement:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believe," "expect," "anticipate," "intend," "estimate," "plan," "make continue," "may," "will," "should," or similar expressions are forward-looking statements. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause actual results and the timing of events to differ materially from those anticipated.
Contact Information:
Echo Defense Projects Inc. (formerly Eco Depot Inc.) 2300 West Sahara Avenue, Suite 800 Las Vegas, NV, 89102 Website: www.ecdp.co Email: info@ecdp.co
SOURCE: Echo Defense Projects Inc.
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