Durban, South Africa., December 11, 2013. Seeker Tec International, Inc. completes acquisition of Eco Steps, a South African based company that leads the field in the construction of low cost ecofriendly housing. 013 /PRNewswire/ -- Seeker Technologies Ltd (OTC Markets: SNTL) the wholly owned subsidiary of Seeker Tec International, Inc. has completed the acquisition of a majority stake in Eco Steps, a South African based company that leads the field in the construction of low cost ecofriendly housing.
Eco Steps www.ecosteps.co.za
is owned and managed by founder Rodney Wall, who has a wealth of experience in the construction and development of the high quality, low cost housing and related products.
Seeker Tec has been investigating this market for two years and sees the acquisition as a major strategic step in its development of its compassionate capitalism brand. Many countries across Africa and beyond, affected with land mines, need to re-house people evacuated from those areas and the respective Governments regard the production of affordable homes as a major part of the solution. There is an absolute need to build millions of new home across Africa and the Eco Steps house offers a unique and cost effective answer.
The homes are built using sandbag technology and are solid in construction and almost indestructible. A house can be built in a two days using local labor and materials and have been built in South America, Africa and Europe. The design is recognized by the South African building authorities and has won design awards in the USA.
While landmine affected countries are a major market for Seeker, the company recognizes the potential need across the world for this type of construction. Seeker is currently tendering for a construction contract in South Sudan with a value in excess of $7 million.
Mike Kendrick commented “we have consulted with architects and building companies in the USA, UK, and Europe and all have recognized the potential and the efficacy of this type of building”. “When you consider that the sand bags mature into solid blocks to which a screed is applied, it’s close to how the pyramids were built and they have been standing for over 4000 years”.
Although an Eco step is a small company with sales projected at just five million Rand ($500,000 US) in 2014, Seeker Tec expects to grow the business substantially beyond this in the coming year. For more information on Seeker Tec visit http://www.seeker-tec.com