Luxor to use Millennium coating on wood products
Ticker Symbol: C:LRL
Luxor to use Millennium coating on wood products
Luxor Industrial Corp (C:LRL)
Shares Issued 37,686,779
Last Close 1/22/2016 $0.14
Tuesday January 26 2016 - News Release
Mr. Terry Lashman reports
LUXOR TEAMS WITH MILLENNIUM TO PROTECT LUMBER
Luxor Industrial Corp. has partnered with Millennium Fire LLC to use its Millennium advanced framing lumber technology (MAFL16) to protect wood. Luxor will initially apply this coating on its architectural wood products.
Millennium Fire's core product, which is MAFL16, has five key ingredients, one of which is a technology developed by No Burn Inc., that defend against fire. Additional key ingredients create a protective coating that defends against mould, ultraviolet and moisture, which, among other things, protect the lumber during construction exposure. This MAFL16 coating will allow Luxor's architectural products to meet the California Wildland-Urban Interface codes. These new fire codes have been adopted in eight Western states as a result of massive wildfires. Luxor will also market its architectural products in regions where fire codes have not been introduced so the national specifying community can select this advanced lumber protection on its exterior wood details.
The current exchange rate and Luxor's factory proximity to the United States border provide an additional advantage in manufacturing these products for export.
Steve Conboy, president and chief executive officer of Millennium Fire LLC, stated: "No Burn is by far the best technically in the fire-coating industry, and Millennium is now their only OEM in North America. Luxor's management team has experience with coating lumber and recognizes the value in coated wood to protect against things like fire and mould."
Bill Kish, president and chief executive officer or No Burn, stated: "We're pretty excited about the synergies that are occurring between No Burn Inc., Millennium Fire and Luxor, particularly with regards to Steve Conboy's value-added plan and program. We believe these treated products are going to be accepted and viewed as the new gold standard."
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