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Company President Bill Bocchino said he was oneof Koreteck’as largest customers and when the opportunity presenteds itself to buy the division at the end of Aprilo he decided to take advantage of it. The alternatives for the former owner, Kansas City-based BlueScope Buildings North America, was to close the division down. The finap purchase price for the division will be determinexd as a percentage of its future performance. “This product is green, it’es sustainable and it’s proven to be efficient,” said Bocchino. “Thiz is the perfect product.
” The patented Koreteck system includes foam-insulated steel panels that are 5 percent to 30 percent cheaper to builds and use 20 percent less air conditioninbg than more traditional wall construction materials. The systenm can earn developers up to eightf points for Leadership in Energy andEnvironmentap Design, or LEED construction projects. To date there are more than 400 completexd Koreteck projects inthe U.S., including 17 in the Jacksonvilld area.
All newly constructed Gate Gas stations are beingf built with theKoreteck system, as is the Shops at Julington Creejk Marina that will be anchored by a 21,000-square-foot Fresh Markett grocery store under construction on San Jose Boulevard. Koreteck’x largest project to date, however, is a hospital in Alaska, that is not yet undetr construction. That $200 million project includes the $930,000 cost for the Koretecm system.
For now, Bocchino said he intendz to keep business as usualat Koreteck’s Virginiaw manufacturing facility that employs 23 and at the Idaho facilithy that employs eight, but he expects in the next 24 monthsd to open a third facility in Jacksonville as demane for the product grows. Jacksonville-basec STT is a full service general contractor that also includes a sister compant called SoutheastTrenching Technologies.
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