More good news from Luxor but no one cares. Investors are running away from the CAD markets due to the loonie crashing. Luxor's fundamentals continue to improve:
Luxor Industrial wins $550,000 (U.S.) framing contract
2016-01-20 08:36 ET - News Release
Mr. Terry Lashman reports
LUXOR'S USA MILL FRAME LLC SIGNS SECOND FRAMING CONTRACT WITH SEATTLE BASED VENTURE
Luxor Industrial Corp.'s subsidiary, USA Mill Frame LLC, has signed a second framing contract with Seattle-based Venture General Contracting LLC. The approximate $550,000 (U.S.) contract with installation commencing in March, 2016, follows the initial contract of approximately $1.8-million (U.S.).
Luxor has purchased and is installing a wall panel plant at its Abbotsford, B.C., manufacturing facility. The plant will be fully operational by the end of January to manufacture prefabricated walls, and precut and packaged engineered floor systems for U.S. framing contracts. The turnkey contracts call for Luxor to provide all wood framing components as well as direct labour.
Luxor is able to prefabricate framing products off-site to provide distinct advantages for a builder as highlighted in an SBC Magazine article titled "10 Construction Trends Include Offsite Componentization." According to the experts the first two out of the top 10 trends to watch in 2016 are:
A skilled labour shortage will continue to plague construction companies. The labour crisis is not a new issue, and most experts predict it will continue well into 2016 and beyond, as the talent deficit will require multiple years to fill up again.
Prefab/off-site construction methods will become more popular. Off-site -- also known as modular or prefabricated -- construction has been gaining ground as an alternative building method that offers the benefits of reduced construction time, less waste and possible cost savings.
Terry Lashman, chief executive officer of Luxor, said: "Luxor's recent acquisitions allow our seasoned technical team to enter the U.S. framing market. We are well positioned to diversity and grow due to the combined strengths of USA Mill Frame LLC sales, Canadian Mill Frame Inc.'s framing/prefabrication experience coupled with Luxor's manufacturing facilities proximity to the U.S. border."
All parties have reached definitive agreements, and Luxor is awaiting regulatory approval of the acquisition of Mill Frame LLC and agreement to buy the book business and certain assets of Colt Builders Inc. of Alberta by Mill Frame Inc. |
