Manufactured housing’s historic producer, Skyline Corporation, closed a deal made with Evergreen Recreational Vehicles, LLC on Oct. 7. The Real Property Purchase Agreement transferred Skyline’s RV business segment at an approximate cash price of $981,000. The sale executed a few days ago includes the RV manufacturing facility located in Bristol, Indiana.

The agreement states Evergreen has gained the right to purchase raw material at 50% of Skyline’s cost. In fiscal year 2014, the RV division’s net sales totaled $45,866,000 for Skyline, which can set major expectations in revenue for the new owner of the segment.

CNN Money told MHProsNews about the excitement from both parties about the transaction. Skyline’s president and CEO, Bruce G. Page confirmed that with this statement :

“Today’s announcement (Oct 10^th) reflects our Board’s and management team’s commitment to executing on the Company’s strategic plan and driving long-term shareholder value,” said Bruce G. Page, Skyline’s president and chief executive officer.  “We believe this transaction with Evergreen is aligned with our strategic value-creation objectives and is in the best interest of shareholders.  We will continue to focus on driving profitable growth and serving customers in our core business of manufactured housing, where we see substantial opportunities for the future.”

The company remains a leader on the Manufactured Homes market “with 2,434 manufactured homes, 457 modular homes, and 231 park models sold in fiscal 2014,” but the sales certainly marks an important step into Skyline business strategy. ##  

(Photo credit: Skyline Homes)

(Article submitted by Lucine Colignon to Daily Business News – MHProNews)