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Global Diversified Industries Announces it is Moving Into the Commercial Modular Structure Sector Tuesday August 29, 5:00 am ET
CHOWCHILLA, Calif., Aug. 29 /PRNewswire-FirstCall/ -- Global Diversified Industries, Inc. (OTC Bulletin Board: GDVI - News), focused on the modular building industry with emphasis on the education market (http://www.gdvi.net) , today said that its wholly owned subsidiary, Global Modular, Inc., has secured the rights from the State of California to manufacture commercial, pre-fabricated/modular-type structures under building codes governed by the state's Housing Community Development (HCD) department. ADVERTISEMENT
"This creates significant opportunity for growth for Global Diversified in both California and the neighboring states of Arizona and Nevada, since those states accept structures approved in California through reciprocity measures," said Phil Hamilton, CEO.
Global Modular, Inc. is currently implementing a HCD product fabrication line at their 100,000 square feet Chowchilla facility. The first structure is scheduled to be available for shipment in September 2006.
Mr. Hamilton said that "we have purposely and methodically taken our time to introduce this HCD product line to our market base. Our new and expanded customer base can include modular structures for commercial retail centers, restaurants, military installations, hospitals and correctional institutions. With more than 50 variations of engineered and approved commercial modular building plans, we intend to hit the market running. We have closely monitored the HCD market throughout the region for several years and our in-house market research, along with data provided to us from commercial modular dealers, verifies that the West Coast commercial market needs additional manufacturing support to fulfill future space requirements. We are very bullish about the future of this expansion of our core business."
About Global Diversified Industries, Inc.:
Global Diversified Industries, Inc. is a holding company whose subsidiary Global Modular, Inc. is engaged in the modular construction marketplace with an emphasis on educational projects. It incorporates the latest in construction software, allowing it to better manage projects incorporating cost vs. profit ratios, construction and manufacturing schedules, purchasing, receiving and other facets of industrial management. The Company's work is found in Northern and Southern California, with numerous projects planned for school systems throughout the state.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release. For investor information contact:
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Global Diversified Industries Addresses Company Progress, Business Strategies in Letter to Shareholders Thursday September 7, 5:00 am ET
CHOWCHILLA, Calif., Sept. 7 /PRNewswire-FirstCall/ -- Global Diversified Industries, Inc. (OTC Bulletin Board: GDVI - News), focused on the modular building industry with emphasis on the education market (http://www.gdvi.net) , today said that a letter written to shareholders by its Chairman and CEO, Phil Hamilton, about the Company's progress and future business strategies, plus a brochure on the Company and other background information, has been sent to shareholders. The text of the letter follows: ADVERTISEMENT
Dear Valued Shareholder,
First and foremost, on behalf of myself and all the employees of Global Diversified Industries (GDVI) a heart felt "thank you" for the confidence you have personally shown in our company. We realize you have several investment opportunities. There may have been times you have been tempted to select another investment alternative. We understand these pressures. However, after review of our past sales growth, our position in the current marketplace, and, our unique capacity to capitalize on future market needs I am confident your enthusiasm in your GDVI investment will grow.
THE PAST
The past three years sales numbers have seen outstanding growth. Revenues for the fiscal year ending April 30, 2004 were $3.8 million. Revenues for the fiscal year ending April 30, 2005 were $9.8 million. Revenues for the fiscal year ending April 30, 2006 exceeded $14.9 million. Our emphasis has, and will continue to be the manufacturing of pre-fabricated/modular type buildings for the California educational market. Single and two story classrooms, computer and science laboratories, child care facilities, libraries, restrooms, and administrative offices define the education production line that GDVI can provide.
THE PRESENT
Today, Global Diversified employs over 140 people. Our 100,000 square foot manufacturing facility is located on 16 acres in the City of Chowchilla, the geographic center of California. Our plant can serve both Southern and Northern California marketplace, and, what a marketplace! Nearly all of California's one thousand plus public school districts are actively designing and awaiting the commencement of their facilities "modernization" mandates. Over 70% of California classrooms are over 20 years old. It is estimated over 40,000 new classrooms are required to meet current enrollment demands. With the passage of Proposition 55, over $12.3 Billion in bonds will be available for campus modernization and related facility expenditures.
To compound the crisis, over the past 24 months, three of the eight major manufacturers of modular structures with approved California Department of State Architects (DSA) building plans have 'closed-their-doors" and ceased production operations (Aurora Modular, Turnkey Schools and Eco Building Systems). The present supply shortage is REAL. Global Diversified is the single best positioned company to provide the quality modular product our public school system currently demands and needs.
THE FUTURE
No market stands still. Customer needs change and Global Diversified has, and must, meet these changes to stay a leader within this specialized industry. Several school districts have turned to 'permanent' vs. 'portable' type modular structures. These permanent modular structures attached directly to conventional concrete foundations. Global Diversified has designed and acquired state of the art "slab-on-grade" prefabricated buildings approved for California public schools. NONE of our competitors can offer this product as economically as GDVI. School administrators, architects and teachers are being introduced to Global's innovative and 'permanent' product line. Our targeted marketing approach has been tailored to showcase the permanent modular construction, without surrendering the importance of our standard modular type structure.
In addition, our 3 to 5 year business plan projects a significant increase in non-educational/commercial prefabricated modular buildings. Professional offices, restaurants, retail and commercial structures can all be more quickly and economically constructed by incorporating Global Diversified's prefabricated product line vs. conventional 'stick-build' construction.
In closing, as proud as we are of our accomplishments to date, all of us at Global Diversified realize our most challenging tasks are ahead of us. We are a manufacturer of high quality, attractive and competitive, modular buildings. We don't live on the Internet or in 'hyper-space'. Sales projections for fiscal year 2007 is estimated $20+ million and for fiscal year 2008 $30+ million. To achieve these sales and production goals we must deftly coordinate and expand our management, production and sales teams. We must continue to upgrade fabrication lines and equipment. We must expand our banking and bonding relationships. And, most importantly, secure new capital sources to fund these objectives.
California schools are experiencing and overcrowding nightmare. Conventional construction costs have skyrocketed. Government bond funding is approved and available. Three of the eight major modular classroom manufacturers have ceased production. Global Diversified not only has a superior product, but is in the position to capitalize and exploit the current production void. Every strategic piece has been identified. Now is the time to act.
Thanks for your attention and past comments. We will do everything we can to make your investment a successful one. Should you have any further questions please contact our corporate office. We encourage your comments and future support.
Sincerely,
Phil Hamilton Chairman & CEO
About Global Diversified Industries, Inc.: Global Diversified Industries, Inc. is a holding company whose subsidiary Global Modular, Inc. is engaged in the modular construction marketplace with an emphasis on educational projects. It incorporates the latest in construction software, allowing it to better manage projects incorporating cost vs. profit ratios, construction and manufacturing schedules, purchasing, receiving and other facets of industrial management. The Company's work is found in Northern and Southern California, with numerous projects planned for school systems throughout the state.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release. For investor information contact:
Paul Knopick
949-707-5365
pknopick*eandecommunications.com
-------------------------------------------------------------------------------- Source: Global Diversified Industries, Inc.
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