Star Equity subsidiary signs two contracts totaling $4.6M

Star Equity Holdings announced today that its wholly owned subsidiary, KBS Builders, has signed two contracts totaling $4.6M to manufacture 40 modules for the construction of cottages and affordable housing units in Maine. Contract details are as follows: $3.0M contract to manufacture 32 modules for the construction of 15 one- and two-story cottages in Northeast Harbor, Maine. Manufacturing of these modules commenced in September, with delivery to be completed by December; the cottages are expected to be ready for occupancy by Spring 2025. $1.6M contract to manufacture 8 modules for the construction of two multi-story buildings comprising 16 affordable housing units in Newcastle, Maine. Manufacturing of these modules is expected to commence in October, with delivery to be completed by December; the housing units are expected to be ready for occupancy by Spring 2025.