Art's Way Manufacturing Announces $7 Million Contract for a Modular Building Complex
Art's Way Manufacturing Co., Inc. (NASDAQ: ARTW), announces its wholly owned subsidiary, Art's Way Scientific, Inc., www.buildingsforscience.com has designed, and is under contract to manufacture 24 modular units. The modular units are expected to be constructed and installed over the course of approximately one year and will make one 21,350 square foot research facility. The research facility is being built for one of the world's leading research and teaching institutions. Art's Way also expects to procure an installation contract, which could yield additional revenue of approximately $2 million. The anticipated value of the combined contracts would be approximately $9 million over the term of the contracts.
Dan Palmer, President of Art's Way Scientific said, "We are very pleased...to have the opportunity to produce and complete this critical project."
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.