Eco Defense Projects Inc. (OTC:ECDP) Stock In Focus After Recent News

Eco Defense Projects Inc. (OTC:ECDP), which had previously been known as Eco Depot Inc., is a major player in the sustainable infrastructure innovation space. The company came into focus on Thursday after it announced that it had completed the acquisition of the Mexican construction firm CCT, which had been set up in 2003. It was a major new announcement from the company and one that could bring its stock into sharp focus among investors.

In the news release, the company noted that the acquisition was strategic in nature and would be able to complement the product offerings from Eco Defense Projects. It could be especially beneficial for the Eco Pave product line from the company.

The products offered by the news acquisition would help in the resurfacing of asphalt and concrete roads, thereby prolonging the life span by up to two decades. It was also noted that CCT was a financially strong company with unaudited revenues of $62 million from January to October 2023. During the above-mentioned period, the company also managed to generate a gross profit margin of 46.4% and an EBITDA of $6.9 million.

The General Manager and Chief Executive Officer of CCT, Jose Alejandro Moya Ricezo, spoke about the latest development and expressed his excitement about the acquisition. He noted that the integration of Eco Pave technology with CCT’s operations could prove to be a path-breaking new development. He noted that the acquisition by Eco Defense was not only going to be beneficial for CCT but would also be a major step forward for the industry at large.

As per the provisions of the Stock Purchase Agreement dated December 11, 2023, Eco Defense completed the acquisition of 100% of the issued and outstanding stock in CCT’s capital. The transaction was completed in exchange for 110 million newly issued shares of Eco Defense stock.