COLUMBIA, SC – April 19, 2012 – Imagine a home that can be built in a single day by a crew of just five workers using no special tools or heavy equipment – and is so strong that it can withstand an earthquake or hurricane. It’s been just a dream for governments seeking affordable housing that can be erected quickly and economically, but it became a reality when Innovative Composites International (IC:TSX-V) (“ICI” the “Company”) opened a one-of-a-kind manufacturing plant in Orangeburg on April 19.
“This is the fastest way to assemble an affordable and durable home,” said Terry Ball, ICI’s Chief Executive Officer. “A small crew of people can assemble a home without any special tools or training, and they don’t need any heavy equipment.”
“Some competing technologies can withstand high winds, but not an earthquake,” notes Mr. Ball. “Our technology does both and it does it at less than half the price of a typical conventionally built home (about $120/sq. foot). There’s nothing like it anywhere in the world, which is why we believe that this home building system will soon be used around the world.”
Located on a 34-acre site about 60 miles from Charleston, the 126,000 square-foot manufacturing plant has the capacity to produce up to 5,000 homes a year.
“South Carolina is a pro-business state, and we celebrate ICI’s decision to invest here and create 300 new jobs,” says South Carolina Governor Nikki Haley. “This is another win for one of our rural areas.”
The unmatched durability of ICI’s new housing system is achieved by constructing the homes with easy-to-assemble, fibre-reinforced Structure Lite panels coated with ICI’s RmorSkin a breakthrough protective material engineered to resist high impacts. The panels, constructed entirely with recyclable materials, are also designed to be moisture resistant, mold and mildew resistant, insect resistant, impact resistant and UV resistant.
The most likely buyers will be governments seeking affordable and durable housing. They can choose from three basic models: The Cabin, a 512-square-foot, 2-bedroom modular home; The Bungalow, an 880-square-foot structure with three bedrooms, a living room, kitchen, 4-piece bath and storage area; and The Lodge, a 1500-square-foot home with three large bedrooms, two 4-piece baths, kitchen, living room, dining room and large front porch. “There is virtually unlimited demand for affordable housing and we intend to be the industry leader in that market,” says Mr. Ball.
The company also produces shelters that are designed to facilitate quick delivery and assembly, a performance advantage that makes them ideal in a wide variety of temporary or permanent applications, including emergency relief sites, mining camps and remote villages. The shelters, available in two configurations (8′ x 16′ or 8′ x 20′ configurations), are made of the same durable base materials as the houses. They are shipped flat, in kits, which increases the shipping density and reduces the cost of delivery. Assembly can be completed in hours by a small crew of workers using no special tools or heavy equipment. “This solution is as easy to ship and assemble as a tent, but it offers the safety and shelter that is associated with a permanent building,” explains Mr. Ball. “We expect huge demand because there is really nothing like it any in the world.”
Courtesy of MidlandsBiz on April 19.