Construction rebound benefits
IVST with $5 Million in revenue from new business in
February.
Cleveland, OH -- February 8, 2019
-- InvestorsHub
NewsWire --
Innovest
Global's
(OTC Pink:
IVST) Building Materials Division Should Benefit From
Construction Spending Rebound and in fact they announced
today Authority
National Supply (ANS) added Four New Members in First Sixty Days
Since Being Acquired by Innovest
Global Inc,
Stock Symbol IVST.
Innovest Global Inc. (OTC Markets:
IVST) (the "Company" or "Innovest"), a conglomerate with
operations in commercial and industrial products and services,
biotechnology, construction and building materials, continues
exceptional organic growth, this time announcing that its
Construction & Building Materials Division, anchored by ANS,
closed four new members in January and February, adding an expected
$5.2 million dollars in revenue for 2019.' Click here for Full
release;
http://innovestglobal.com/press/Innovest-Global-Adds-5-million-revenue-from-building-supply
United States construction
spending increase 0.80% to $1.30 trillion during the month of
November 2018, according to data just published by the
U.S. Census Bureau. This compared to consensus
estimates of a 0.20% increase during the month. The November 2018
results showed the strongest surge in spending since April
2018.
The rebound in construction
spending comes after particularly weak results in September 2018,
which saw spending decline 1.80% to $1.28 trillion. According
to
Trading Economics, "construction spending in the
United states averages 0.45% from 1964 until 2018, reaching an
all-time high of 5.90% in April of 1978 and a record low of -4.80%
in February of 1975."
Analysts are estimating that
construction spending will only continue to grow for the next
several years. According to analysts at
Statista,
total United States construction spending is forecast to reach
$1.53 trillion in 2022. This estimate represents a growth of around
18% between 2018-2022.
One company that will likely be
a major benefactor from the growth in U.S. construction spending
is Innovest Global, Inc. (OTC Pink: IVST)
and its Construction & Building Materials division.
IVST:
Building Formidable Construction & Building Materials Division
After Two Major Acquisitions
Ohio-based Innovest Global has been hard-at-work
expanding its conglomerate business model. Currently,
Innovest
operates three
divisions: Commercial & Industrial, Biotechnology & Health
Sciences, and Construction & Building Materials. The
construction division is the newest of the three, but has already begun to show
strong promise thus far.
The
Construction & Building Materials division is broken down into two
subsidiaries: Authority National Supply (ANS) and Midwest
Curtainwalls. ANS was originally founded in 2012 and is based out
of
Akron, Ohio. ANS is a national supplier of
a variety of building materials, including: roofing, windows, siding,
tools, and more.
Midwest Curtainwalls was founded in 1959 and is
based out of Cleveland, Ohio. Midwest Curtainwalls provides
curtainwall construction and services.
Innovest Global's
Twitter page recently announced plans
to add curtainwalls to a new project contract that was won by the
Commercial & Industrial division in Downtown Los Angeles. The
company shares a "before" shot of the massive building that is the
focus on the project and curtainwall installation.
Innovest
estimates that the
Downtown LA project at Broadway & 4th
Ave to be completed
in Spring 2019.
Overall, the United States
construction market is estimated to see continued spending growth,
which is great news to building materials companies and
suppliers. Innovest Global is one such company that
operates a blooming Construction & Building Materials division,
which continues to see strong growth.
About
Innovest
Global,
Inc.
Innovest Global, Inc. (OTC
Markets:IVST)
is a conglomerate with operations in commercial and industrial
products and services, energy, biotechnology, and health services.
Our primary growth strategy is to acquire existing companies in a
select few industries, and
attract new
customers in cost effective ways. Currently, we have a Commercial
& Industrial Division, a Biotechnology Division, and a
Construction & Building Materials Division.
For more information, please
visit:http://www.innovestglobal.com,
and follow us on Twitter@innovestglobal
and Facebook@innovestglobal.
Forward-Looking
Statements
This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. All statements other than statements of historical
facts included in this press release are forward-looking
statements. These statements relate to future events or to the
Company's future financial performance, and involve known and
unknown risks, uncertainties and other factors that may cause
actual results, levels of activity, performance or achievements to
be materially different from any future results, levels of
activity, performance or achievements expressed or implied by these
forward-looking statements. Investors should not place any undue
reliance on forward-looking statements since they involve known and
unknown, uncertainties and other factors which are, in some cases,
beyond the Company's control which could, and likely will,
materially affect actual results, levels of activity, performance
or achievements. Any forward-looking statement reflects the
Company's current views with respect to future events and is
subject to these and other risks, uncertainties and assumptions
relating to operations, results of operations, growth strategy and
liquidity. Such risks, uncertainties and other factors, which could
impact the Company and the forward-looking statements contained
herein are included in the Company's filings with the OTC Markets.
The Company assumes no obligation to publicly update or revise
these forward-looking statements for any reason, or to update the
reasons actual results could differ materially from those
anticipated in these forward-looking statements, even if new
information becomes available in the future.
