Here is some news which I consider to be of interest. I hope that you find it interesting as well:
Eastern United States Progress Report
Luxor Industrial Corporation (VSE: LRL & OTC BB: LXRRF) is pleased to
provide the following update regarding its market penetration with
retailers, builders and distributors in the eastern United States. The
Company has focused on increasing the use of its patented IBS 2000 Load
Sharing Connectors by expanding its geographic, customer and product use bases.
IBS 2000 Load Sharing Connectors, installed between floor joists, were
developed to provide designers and builders with a cost-effective way of
building better floors.
Retailers
During the second quarter of 1998, IBS 2000 was successfully introduced in
Maryland by Snavely Forest Products, Luxor's distributor based in Baltimore
and through one of Snavely's retail accounts, The Contractor Yard, a wholly
owned subsidiary of Lowe's Cos Inc.(NYSE: LOW). The following contractor
based retailers have subsequently become stocking dealers:
· Reisterstown Lumber - Reisterstown, Maryland
· J.F. Johnson Lumber - Annapolis and Millerstown, Maryland
· A.D. Moyer - Pottstown and Gilbertsville, Pennsylvania
· Jim Carpenter Company - Fredericksburg, Virginia
· Somerville Lumber Company - Bridgewater, New Jersey
Luxor and it's distributors are engaged in ongoing discussions with
retailers throughout the region who are interested in becoming IBS 2000
stocking dealers. Lowe's "Contractor Yard" has 36 retail outlets.
Discussions are currently underway to expand into other outlets starting in
Virginia.
In addition, sales of IBS 2000 have been made on a project by project basis
through non-stocking dealers.
Builders
The growing list of large Maryland builders using IBS 2000 includes
Renaissance Homes, Trafalgar Homes, Senate Homes, Stanley Martin, Gosnel
Inc., Harverford Homes, Harvard Homes and Alteri Construction.
With the addition of stocking dealers in other regions, Luxor expects large
regional builders in those areas to utilize the IBS 2000 in their floor
construction.
In November, Luxor announced that NV Homes, the custom home division of NVR,
Inc. (AMEX: NVR), a leading home builder in the United States, had approved
the use of IBS 2000 in a wide selection of it's home designs. Shipments
have been made to NV Homes in December and January.
I-Joist Manufacturers
In November, Luxor announced a marketing arrangement with the I-joist
manufacturer, Jager Industries Inc.. NVR Inc. is using Jager's Super
I-joists together with Luxor's IBS 2000. Two Jager representatives have
been added to the sales force representing IBS 2000 in the eastern market.
These representatives are offering the Jager/IBS 2000 system to their
customer base. This adds to the exposure already gained through dealers
marketing Louisiana Pacific Corporation's I-joists together with Luxor's IBS
2000.
Luxor has prepared floor Span Tables using IBS 2000 together with Boise
Cascade Corporation's I-joists for Luxor's New Jersey based distributor,
Mid-State Lumber Corp., a distributor of Boise Cascade's I-joists.
Manufactured Housing Industry
In February, Luxor announced the appointment of Sporoco Inc., of
Selinsgrove, PA as its first distributor specifically for the manufactured
housing market. Sporoco, with distribution centers in Pennsylvania and
Virginia, is presently planning a market campaign which includes test homes
with key accounts. The IBS 2000 was introduced at a manufactured housing
industry exhibition in York, PA during the week of March 1. Sporoco's sales
staff of seven adds to the growing list of representatives selling the IBS
2000 system. This new market for Luxor, is a significant and growing
segment of the housing industry.
Retrofit Market
In many instances, retailers and builders have requested Luxor to supply IBS
2000 units to retrofit poor performing floors. In all cases the retrofit
has been successful. Luxor has placed considerable emphasis on expanding
its sales to this significant market. Special order forms and installation
instructions have been developed for retailers and homeowners to order
custom sized IBS 2000 retrofit connectors.
The retrofit connectors provide builders with the lowest cost solution to
floor performance problems in existing homes. The success of retrofit
installations has led to many large builders using the product in new
construction.
Summary
Luxor is encouraged by the growing use of its IBS 2000 Connectors by
builders in the Eastern United States. Although Luxor sales to distributors
were at low levels during the second half of 1998, shipments from
distributors and retailers to builders increased during this period and
continue to increase in 1999. These shipments to builders were from
inventories built by distributors in 1997 and the first half of 1998.
Current inventories of IBS 2000 at the distributor and retail levels have
been reduced to minimum operating levels. The growing builder demand will
now be filled from new orders placed by Luxor's distributors.
Luxor's expectation for sales growth is increasing as the Company begins to
enter its second year in the market. Luxor will expand the market through
direct mail advertising, publicity, trade shows and product seminars. New
product literature has been completed and has increased the effectiveness of
sales presentations. Luxor plans to add additional marketing
representatives in the region.
Luxor has spent many years in Research and Development, analyzing wood-frame
floor construction, while establishing itself as the leading authority in
wood floor performance engineering in North America. Luxor has developed the
IBS 2000 Load Sharing Connectors. Luxor markets, manufactures, and
distributes the IBS 2000 Load Sharing Connectors.
For further information contact Budd Iwaschuk at (800) 665-2454 or (604)
684-7929, or visit our website at www.luxorcorp.com. |
