Business
Echo Defense Announces High-Revenue Acquisition of CCT, Officially Known as Compañía Constructora de Tijuana S.A. de C.V.
Echo Defense Announces High-Revenue Acquisition of CCT, Officially Known as Compañía Constructora de Tijuana S.A. de C.V..
About this update from Eco Depot, Inc.
[{"type":"text","content":"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 miss...