Joint VentureAug 3, 2026, 06:21 AM
MDWerks Subsidiary RF Specialties to Form JV with Rex Lumber
AI Summary
MDWerks, Inc. announced that its subsidiary, RF Specialties, has signed a non-binding Letter of Intent with Rex Lumber Company to form a joint venture. This proposed JV will focus on developing, deploying, and commercializing radio frequency-based solutions for the lumber and wood-products industry. RF Specialties is expected to hold a 51% ownership stake, contributing intellectual property and technical leadership, while Rex Lumber will hold 49% and provide sales, distribution, and a substantial multi-million-dollar initial capital investment.
Key Highlights
- MDWerks' subsidiary, RF Specialties, signed a non-binding LOI with Rex Lumber Company.
- The proposed joint venture will focus on radio frequency-based solutions for the lumber and wood-products industry.
- RF Specialties is expected to hold a 51% ownership interest in the JV, and Rex Lumber 49%.
- RF Specialties will contribute IP, engineering, and facility support.
- Rex Lumber will contribute sales, distribution, commercial support, and a multi-million-dollar initial capital investment.
- The JV aims to commercialize radio frequency technology for applications like sawdust drying and board straightening.
- Rex Lumber may designate an individual to serve on the MDWerks Board of Directors.
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