Patrick Industries, a major manufacturer and distributor of building and component products for the recreational vehicle (“RV”), manufactured housing (“MH”) and industrial markets, recently reported its financial results for the fourth quarter and twelve months ended December 31, 2011. The company reported the MH industry, which represented 26 percent of …
Patrick Industries Reports 45 Percent Increase in MH Shipments Read More
Sun Communities, Inc., reports for the year ending 12-31-2011 its FFO (funds from operations) increased from $2.97 per diluted share in 2010 to $3.13 per share in 2011, a gain of 5.4 percent. Same site net operating income was up 3.6 percent. Revenue producing sites increased by 732 for year …
Bradenton tells MHProNews.com Lippert Components, the wholly-owned subsidiary of MH and RV component maker Drew Industries, Inc., acquired Euramax International, Inc.’s United States RV entry door business for $1.7 million. USRV has annualized sales of $6 million. Lippert paid $1.2 million and will pay the balance over the next three …
Chicago-based Green Courte Partners, LLC, has confirmed the new managing director of their MHC acquisitions arm, Bill Glascott, is moving over from a similar position he held at Hometown America, LLC, a company Green Courte’s Chairman Randy Rowe helped found. MarketWatch tells MHProNews.com during his twelve years at Hometown Glascott …
Modular home builder Miller Homes recently announced a partnership with manufacturer Durabuilt Custom Homes, which the companies say will allow the tailoring of modular homes to customers’ diverse needs. “Miller Homes is in a unique position to offer Southern and Central NJ home buyers a full line of customized, modular …
Miller Homes and Durabuilt Custom Homes Benefit from Alignment Read More
This week ATCO Ltd. reported record earnings for 2011 led by worldwide increased activity for ATCO Structures & Logistics, higher earnings in ATCO Power and additional infrastructure investment in the utilities to support Alberta growth. Earnings attributable to Class I and Class II Shares were $327 million ($5.65 per share) …
NineMSN of Australia tells MHProNews.com the Fleetwood Corporation, a producer of RVs and modular accommodations for residential and commercial applications, announced its profit for the six months ending Dec. 31, 2011 rose ten percent to $26.89 million. CEO Steven Price attributes the earnings report to increased demand for temporary accommodations …
Benzinga tells MHProNews.com that Nobility Homes, Inc. received a letter of non-compliance from NASDAQ because the company did not file the required Annual Report on Form 10-K with the Securities and Exchange Commission (SEC) for the period ending Nov. 5, 2011. The letter, received by Nobility Feb. 10, 2012, says …
MHProNews.com has learned from MarketWatch that MHC owner Sun Communities, Inc., of Southfield, Michigan has purchased three RV communities in Florida for $25.0 million cash. The acquisition includes 488 permanent RV sites and 636 seasonal RV sites which are in Bushnell, Orange Lake, and Hudson Florida. When combined with the …
According to SeniorHousingNews, with health care costs rising and the economy still not thriving, “Granny pods” may start appearing in your neighbors’ backyards. Small modular homes, Med-Cottages, 288 square feet, outfitted as needed for the particular resident, assembled in a backyard, can give seniors a sense of independence while keeping …
MHProNews.com has learned through GizMag Bellomo Architects has designed a modular house that arrives in a ten-foot box and is assembled much like IKEA furniture. Bent steel tubes form the base structure of House Arc, which comes with an easy-to-follow graphic manual and requires no special training to assemble. When …
USAToday tells MHProNews.com sustainable, energy-efficient home-building has increased in the wake of actor Brad Pitt’s founding of Make It Right, a response to the housing needs of victims of Hurricane Katrina in New Orleans. Living Homes of California has developed a modular 1,232 square foot home with three bedrooms and …
The 54 homeowners at Big W Mobile Home Park in Derry, New Hampshire, are celebrating ownership of their community. The New Hampshire Community Loan Fund (NHCLF) and ROC -NH (Resident Ownership Capital-New Hampshire) are celebrating their birthing of the 100th MHC in New Hampshire. Not one of the 100 has …
In an exclusive communication from MHI, MHProNews.com has learned Richard “Dick” Jennison has been chosen to head the Manufactured Housing Institute (MHI). The former partner and Senior Vice President at Omni Solutions Group where he managed their large not-for-profit business practice, Jennison previously spent nearly eight years as president of …
FollettUSA recently announced its newest key team member, Jonathan Harrison. The company announced recently Harrison joined as a Partner and works in conjunction with Erik Rollain, Senior Vice President and Director of Acquisitions. Harrison’s core focus is acquisitions in order to continue the expansion of FollettUSA’s National portfolio. The company …
From Alabama and AL.com, MHProNews.com finds another article on the recalled gas furnaces used in manufactured homes. The furnaces, produced by York International under the names Coleman, Coleman Evcon and Red T, have resulted in nearly 400 incidents of smoke and/or fire. The initial recall for the units, about 223,600 …
Encore Wire Corporation, a leading manufacturer of a broad range of copper electrical building wire for manufactured housing reports that the Company’s Board of Directors unanimously voted to increase the number of directors serving on the Company’s Board of Directors to seven members, and to appoint Mr. Gregory J. Fisher …
A source has informed MHProNews.com that Apex Homes, Inc. of Middleburg, Pennsylvania, a modular home builder, filed for reorganization under Chapter 11 bankruptcy the end of January. Calls to Apex for confirmation were referred to an asset management company, which did not immediately return calls. Apex has been in business …
Hurt by high material and production costs, Drew Industries, Inc. announced fourth quarter earnings lower than expected. According to information MHProNews.com has received from Reuters, the RV and MH component maker saw net sales rise 50 percent to $160 million, and income rise by $1 million to $4.1 million over …
ModularHomeCoach informs MHProNews.com Canadian modular home builder Alouette Homes has been acquired by Quebec modular homes manufacturer Bonneville Homes. According to Danny Bonneville, co-president of Bonneville, “This acquisition will double the size of our production facilities and allow us to move forward with the ambitious growth program we introduced a …
