SBD International, Inc. News
SBD International, Inc. Sells Chiefland
MIAMI, May 6 PRNewswire-FirstCall — Management of SBD International Inc. (OTC: SBDL) announced today that its property management subsidiary Integral Inc. has completed the sale of its condo retail units at Chiefland Retail Centre. The sale originally scheduled to be closed November 15, 2007 was completed on March 7, 2008. The entire property was sold for $4,100,000.
The Company completed this sale of its major project in a difficult commercial real estate environment, giving a great boost to the Company and its personnel.
CEO Carl Michael Nurse noted, "This sale will give us over 4 million in revenues to date, a significant increase from the last two years, where we had revenues of approximately $800,000 in 2007 and $450,000 in 2006. This confirms our belief that if a property is conceptually sound, there is an opportunity for profitable commercial venture." He continued, "We will therefore be looking to develop similar projects in the next 18 months, as we prepare for the turn-around in the commercial property markets."
SBD International is a Florida-based company engaged in the business of construction from total site and build to environmental solutions. The Company has refocused its former core business of site utility work and will look again for an acquisition in that niche. It will also look at related projects in recycling technology in as much as it relates to building materials. SBD also performs construction management and general construction services. Other services provided include the marketing and distribution of innovative construction related technology products.
This press release contains "forward-looking" statements as that term is defined by Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). All statements that are included in this press release other than statements of historical fact are "forward-looking" statements. Although SBD International believes that the expectations reflecting in these forward-looking statements are reasonable, it can give no assurance that such expectations will materialize. Important factors could cause actual results to differ materially from the expectations as disclosed herein, including without limitation, in conjunction with these forward-looking statements contained in this press release.
SOURCE SBD International, Inc.
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