Star Equity subsidiary signs $3.2M contract for construction project in Maine

Star Equity (STRR) announced that its wholly owned subsidiary, KBS Builders, has signed a $3.2 million contract to manufacture a multifamily housing project in Maine. The $3.2 million contract calls for the manufacturing of 40 modules to construct five 4-unit townhouse condominiums in Lincoln County, Maine. Production is expected to commence in January, with delivery to be completed in the second quarter of 2025. This project is the second of the two “future potential contracts totaling over $5 million” referenced in Star’s third quarter 2024 earnings release with the first being the $2.1 million Vermont project announced on December 19.