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Tuesday, Jul 23, 2024
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Eco Building Products to Establish Joint Venture With Canadian Co.

Eco Building Products Inc., a Vista maker of treated wood products that protect against fire and mold, said it entered into a letter of intent to establish a joint venture with Steelhead Structures, based in Canada.

Through the agreement, a joint venture, called Eco Red Shield Canada Ltd., will be part of the Eco Building’s emerging affiliate program, the company said.

Total revenue from the joint venture in its first full year is expected to be about $1.5 million. Steelhead paid a nonrefundable deposit of $10,000 in pursuit of the letter of intent. Definitive agreements are expected in 30 days, according to Eco Building which is a public company with shares traded on the Pink Sheets under ECOB.

Steve Conboy, CEO of Eco Building Products, said Steelhead Structures, of Calgary, shares the same roots in the framing business, and is familiar with the problems associated with softwood. Having an affiliate near the Canadian spruce will give the company the ability to expand its sales to modular factories that may use the company’s products.

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