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Posts Tagged ‘Fairmont’

Cavco will Retain Fairmont’s Employees, Expand its Customer Base

June 30th, 2015 Comments off

cavco-lapsiding-manufactured-homeFollowing a story MHProNews last posted June 19, 2015, regarding Cavco Industries’ purchase of Fairmont Homes and subsequent request for tax abatements from the city of Nappanee, Indiana for production upgrades, the Nappanee City Council approved a $40,000 tax phase-in for equipment purchases and employee training.

Noting that Fairmont’s products will continue to be marketed under its name, Cavco President and CEO Joe Stegmayer said “(Fairmont) has a good, solid reputation for building quality products and providing service after the sale. Quality is paramount. If we can build good homes and provide good service after the sale, we’ll be in great shape. Fairmont has the people who make that happen.

Stegmayer added Cavco can expand the customer base through its extensive relationships in the manufactured home industry as well as with its marketing capital. “In the winter everything in Indiana is a little slower, and we can help with that and keep more people working full-time in that time period,” he said.

Fairmont has 275 employees in Elkhart County and another 250 at its Friendship Homes plant in Minnesota, all of which Cavco intends to keep, and perhaps add on to, according to elkharttruth. Founded in 1971 by James Shea, Sr., his son and Fairmont’s current CEO Jim Shea, said, “Cavco is very much dedicated to maintaining our strong management team and also all the knowledge base in all of the employees.” ##

(Image credit: Cavco Industries, Inc.–lapsided home)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHPronews)

Cavco Acquires Manufactured Home Producer Fairmont

May 5th, 2015 Comments off

cavco logoMHProNews has learned from globenewswire that manufactured and modular home builder Cavco Industries, Inc. (NASDAQ:CVCO) has acquired Fairmont Homes, Inc. of Nappanee, Indiana through its wholly-owned subsidiary, FH Group, LLC.. With manufacturing plants in Indiana and Minnesota, Fairmont produces manufactured and modular homes and park model recreational vehicles (RVs), and homes built to Canadian codes.

We are pleased to have the Fairmont business and employees join the Cavco group of companies,” said Cavco President Joe Stegmayer. “We believe that Fairmont’s strong production capabilities, reputation for product quality and service and its excellent customer base fit well with Cavco’s philosophy and approach to doing business.

Fairmont’s products will continue to be sold under the Fairmont, Century, Friendship and Harmony names, and Brian Cira will continue on as president of Fairmont Homes.

In addition to manufactured and modular housing, from its headquarters in Phoenix, Arizona, Cavco also produces park model RVs and vacation homes, under subsidiaries Fleetwood Homes, Palm Harbor Homes, Nationwide Homes and Chariot Eagle, through 19 manufacturing facilities.

Although the purchase price was not disclosed, the acquisition was funded with Cavco’s internal capital. ##

(Image credit: Cavco Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Modular Business Booming

July 4th, 2012 Comments off

The energy and mineral fields north and west of Friendship Homes in Montevideo, Minnesota are making the modular builder crank out seven modules daily, but that number is expected to rise to 12 in the near future. wctrib says the oil patch in western North Dakota, the destination for its modular man camps, and the energy and mineral projects in Canada began spurring growth about a year ago, and now there are back orders through the end of the year for some units. The Canada market, where different building requirements apply, accounts for 25 percent of the business. A division of Fairmont Homes of Nappanee, Indiana, Friendship also offers custom modular homes for the residential market as well as commercial product. MHProNews.com has learned the backlog of orders means the help wanted sign is always out.

(Photo credit: Canadian/Simcoe)

Manufactured Homes Coming to Muscatine

February 1st, 2011 Comments off

From Iowa, the Muscatine Journal reports the town may soon be home to a modular housing development, if Jason Harder has his way. Last year this developer purchased the 43 year-old Ripley’s Trailer Court, as well as a 38-acre adjoining pastureland, changed the name to Ripley’s Affordable Housing, and is in the process of turning the pasture into a neighborhood of smaller manufactured homes. Saying the economy is ripe for affordable homes, especially for first-time buyers and retirees, Harder has already improved roads, and worked out an agreement with the city to replace the sewage treatment lagoons with a pumping station, and make sports fields for the community residents. There is already a playground, and a general store catering to the residents. The 39-year-old civil engineer native of Muscatine notes that labor rates make up only 12 percent of labor costs on a manufactured home, as compared to 50 percent for onsite construction homes. In addition, the manufacturers of his proposed homes adhere to HUD standards, using floor joists and steel frames. All the new homes will be constructed with basements, and buyers will purchase the lots as well. In the past, Ripley has offered homes by Fairmont, Dutch, Clayton and Harmony Homes. It should be noted that while the article referred to modular homes, a call to Ripley’s revealed the majority of the homes in the community were manufactured homes.