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Benzinga
Benzinga
Business
Akanksha Bakshi

SG Blocks Inks Distribution Agreement With Sanitec Industries

SG Blocks Nasdaq
  • SG Blocks Inc (NASDAQ:SGBX) entered a ten-year exclusive distribution agreement with Sanitec Industries LLC, a sustainable waste management company. Financial terms not disclosed.
  • Sanitec Industries is the global patent holder for the Sanitec Microwave Healthcare Waste Disinfection System for the State of New York, with the right to expand to other states.
  • The exclusive distribution agreement allows SGBX to purchase, deploy, market, and maintain Sanitec's Microwave Disinfection Units in the State of New York, with the right to expand to other states on a ten-year exclusive basis.
  • SG Blocks is forming a new entity, SG Environmental Solutions Corp., to meet the market need for sustainable, eco-friendly waste management and recycling infrastructure products.
  • Price Action: SGBX shares are trading lower by 1.31% at $1.88 on Monday's last check.
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