PR Newswire - April 07, 2005 05:00
- Influx of Orders Creates $13 Million Production Backlog for Company -
CHOWCHILLA, Calif., April 7, 2005 /PRNewswire-FirstCall via COMTEX/ -- Global Diversified Industries, Inc. (OTC Bulletin Board: GDVI), focused on the modular building industry with emphasis on the education market, is pleased to report it has recently received orders from four school districts for modular type structures.
The orders are from four Southern California public school districts and are worth more than $5.1 million in revenue. The scope of work includes a variety of building types including "permanent construction," standard portable classrooms, science labs, restroom facilities and administrative offices. Nearly 65% ($3.3 million) of the total value of the contracts involves installation of the "permanent construction" design that Global Diversified recently acquired from Aurora Modular Industries, Inc.
Global Diversified Industries, Inc. Chairman and CEO Phil Hamilton said that the "timing and magnitude of these contracts coincides with our effort to hire 75 additional factory personnel. We are now in a position to increase our momentum and carry a significant backlog throughout the remainder of 2005 and into 2006." Hamilton added that the Company is "very enthused with the product mix these orders provide between our standard type product and the permanent construction type product. Our manufacturing facility is designed to efficiently build both product types due to our multiple production lines tooled for multiple designs."
About Global Diversified Industries, Inc.
Global Diversified Industries, Inc. is a holding company with two wholly owned subsidiaries, Global Modular, Inc. and MBS Construction, Inc. Both are engaged in the modular construction marketplace with an emphasis on educational projects. They incorporate the latest in construction software, allowing them to better manage projects incorporating cost vs. profit ratios, construction and manufacturing schedules, purchasing, receiving and other facets of industrial management. The Company's work is found in Northern and Southern California, with numerous projects on budget for school systems throughout the state.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release. For investor information contact:
Paul Knopick
949-707-5365
pknopick@eandecommunications.com
SOURCE Global Diversified Industries, Inc.
Paul Knopick of E & E Communications, +1-949-707-5365,
pknopick@eandecommunications.com, for Global Diversified Industries, Inc.
http://www.prnewswire.com
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