Eco Building Products, Inc. Subsidiary, Wood Protection Technologies (WPT), Cites New Orders in May as further proof of concept for the new business strategy
SAN DIEGO, CA–(Marketwired – Jun 8, 2017) – Eco Building Products, Inc., (OTC PINK: ECOB) reported today that its subsidiary, Wood Protection Technologies, had received and shipped orders to customers across multiple regions in the month of May. These orders, combined with sales related to the Company’s new national distribution agreement, mark substantial growth from a historical perspective.
“We have been laser-focused on operationalizing the new contract we put in place in March. It grew much faster than forecasted, and at the same time, we were gratified to see new orders come in from our existing customers. The volume tested our near-term ability to scale, but we rose to the occasion and shipped all orders on time,” said WPT’s President and CEO Tom Comery.
The Company restructured its business model in 2016, closing regional treating operations to focus solely on chemical product development and manufacturing. In the ensuing months, all of its products were certified code compliant by independent third party engineering organizations. In addition, two new patent applications were filed with a third in final preparation.
“There has been a tremendous amount of work performed behind the scenes to get us to this point, and we view this new volume as proof of concept for the new business strategy. Most importantly, the business is profitable due to the robust costing and pricing models we put in place early on,” Comery added.
The Company said that it expects monthly volumes to be somewhat sporadic in the near term while its channel partners load their respective distribution systems, but the company also anticipates that the period represented by April, May and June should be indicative of a longer term trend.
About Eco Building Products, Inc.
Eco Building Products, Inc. (Eco) is a manufacturer of proprietary, environmentally conscientious chemistry utilizing patent pending ECOB WoodSurfaceFilm™ and FRC™ technology (Fire Retardant Coating). Eco’s products protect against fire, mold/mycotoxins, fungal-decay, wood ingesting insects and termites. Eco is headquartered in San Diego, CA and goes to market through licensed Affiliates nationwide.
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