Echo Defense Projects Corp. ("Echo Defense") (OTC: ECDP), a technology company dedicated to national defense, security, and border control, today announced the acquisition of Five Star North America Inc. ("Five Star"). This major development marks an exciting new chapter in Echo Defense's growth strategy, propelling the company forward into the public safety vehicle market.
Established in the heart of Washington D.C., Five Star North America is recognized for its founders history of modifying and customizing high-quality vehicles tailored to the unique needs of law enforcement and government agencies. Launched by U.S. and Mexican business executives, Five Star North America is set to transform the industry by introducing a paradigm shift in the multi-billion-dollar public safety upfitting market. Each vehicle will be a testament to expert craftsmanship, meticulously customized by a certified team with a commitment to revolutionizing public safety.
Under the terms of the agreement, Echo Defense will issue 4 (Four) million shares to acquire 100% of Five Star. This strategic decision allows Echo Defense not only to broaden its existing technology portfolio but also to unlock new opportunities for government defense contracts.
Carlos Diericx, President of Echo Defense Projects, reflected on the significance of this acquisition, "The integration of Five Star's expertise and vision will significantly enhance our ability to provide leading-edge defense technology, reinforcing our mission to create a safer world. This acquisition is a milestone in our growth story, opening up new avenues of innovation and potential."
Looking towards the future, this acquisition positions Echo Defense to leverage an anticipated surge in the procurement of law enforcement vehicles. Industry forecasts project a demand for 134,360 new law enforcement vehicles in 2023, excluding additional needs from fire, amber, Department of Defense, and Department of Transportation sectors. Given that law enforcement accounts for an average of 19% of the total fleet, Echo Defense is uniquely positioned to capitalize on this robust growth opportunity.
Echo Defense's acquisition of Five Star signifies a bold step forward in its expansion strategy, marrying its commitment to pioneering defense technology with the growing demand for advanced public safety vehicles. This union is set to create a powerful platform for innovation and growth, cementing Echo Defense's position in the defense technology landscape.
About Echo Defense Projects Corp.: Echo Defense Projects Corp., formerly Eco Depot Inc., is a technology company committed to fostering the development and acquisition of companies in the realms of national defense, security, and border control. Its vision is to create a safer world through cutting-edge defense technology. For more information, please visit www.ecdp.co.
ABOUT ECO DEPOT
Eco Depot, Inc. acquires, manages, and develops eco-friendly products. Eco depot's focus is to provide investments, funding, and support for acquisitions, start-ups and technology companies traded Over the Counter at (OTC: ECDP).
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ECO DEPOT, INC.,
2300 West Sahara Avenue, Suite 800.
Las Vegas, NV, 89102
Website: ecdp.co
Email: Info@ecdp.co
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential," and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it.
Accordingly, such forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the Company's actual results, performance, or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition, or alteration to the information catered in this Press Release, including such forward-looking statements.
SOURCE: Eco Depot, Inc.
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ECO DEPOT, INC.,
