Las Vegas, Nevada (PressExposure) July 13, 2009 -- Steadfast Holdings Group, Inc. (OTC Pink Sheets: STDF) subsidiary Banx and green Group, Inc. announced today that they have signed a joint venture agreement to build structurally insulated panels (SIPS) with Superstruct Building Systems, Inc. of LaQuinta, CA. The new venture will be known as Integrated Energy Group LLC.
This agreement provides access to the existing Superstruct manufacturing facilities allowing us to immediately fulfill building contracts in the inner mountain West and Western United States. We will immediately begin searching for a site to build an additional manufacturing facility in the region for utilization of the licensing agreement included in the joint venture.
Dr. John Kalogeris will initially operate the venture bringing with him builders trained in the system. Dr. Kalogeris was one of the initial makers of SIPS in the late 1950âs and is a renowned engineer with impressive credentials who has been active in building component and alternative energy fields for several decades. He is veteran pilot of the Korean War and began his engineering career with General Dynamics Corp upon separation from the service. He has worked in the space industry as a member of the engineering fraternity on the Gemini and Apollo space missions and was responsible for the trajectory calculations for their completely successful missions. âDr. Kalogeris brings a wealth of knowledge, business and political contacts plus other potential business opportunities to expand this venture,â stated John Calash, President of Steadfast Group Holdings, Inc.
This is the first of several expected ventures to be completed in the month of July 2009. We expect to contracts for the production and construction of green buildings under this agreement, additional joint ventures for other types of panels, complete significant growth in the existing coatings business and the expansion into alternative energy as it relates to fuels, power for commercial and residential buildings plus propulsion systems and growth internationally from the combination of these elements. Several million dollars in revenue are expected from our ongoing negotiations and this agreement will allow us to fulfill these potential contracts on a timely basis with substantially less cost.
About Steadfast Holdings Group, Inc.
Steadfast Holdings Group distributes green products to the housing markets and a variety of products to the automotive aftermarket.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release that are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause results to differ materially from those expressed in the forward-looking statements, including but not limited to certain delays and risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
Contact: WSMG Investor and Media Relations Telephone: 760-329-4169 email: firstname.lastname@example.org
John Calash, President Steadfast Holdings Group, Inc. 641 E Main St East Haven, CT 06512 USA
Phone: 407-641-0705 Fax: 203-466-0600