LFWK - Loftwerks Inc., Announces New Hope for Mississippi Hurricane Victims
NASHVILLE, TN, Mar 17, 2006 (MARKET WIRE via COMTEX) -- Dennis Ammerman, CEO of Loftwerks, Inc. (OTC: LFWK), today announces that Consultech Construction Management Inc.'s Midwest office and Consultech's Sulja Bros. Building Supplies LTD are finalizing their plans for hurricane relief reconstruction outside Biloxi, Mississippi. Finalized plans are currently awaiting the State of Mississippi approval.
Consultech Construction Management Inc.'s Midwest office and Sulja Bros. Building Supplies, LTD are aggressively pursuing available Federal and State funding. Negotiations with federal and state funding agencies are proceeding as planned. Construction of 300 permanent residential units and several commercial properties will begin May 1st 2006, with or without federal or state funding options. Government agencies are providing for infrastructure reconstruction, including demolition and clean-up at the work sites.
Permanent residential units are being designed in a new urban friendly style concept. This concept provides improved pedestrian friendly streetscapes, with tree lined walkways and pedestrian scale lighting. The 300 units will range in price from $ 80,000 to $ 185,000. The cost of construction is estimated to be $ 29 M. Net profit margin is estimated to exceed 28% sales.
Loftwerks will complete its merger with Sulja Bros. Building Supplies LTD (www.suljabros.com) on or before March 24th 2006 Consultech Construction Management Inc.'s Midwest office will merge with Loftwerks shortly after Sulja Bros. Building Supplies, LTD.
SOURCE: Loftwerks, Inc.
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