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Posts Tagged ‘Recreational Vehicle’

RV/MH Hall of Fame Releases Expansion Plans for Northern Indiana Event Center

August 11th, 2016 Comments off

RVMHHallofFameNorthernIndianaEventCenterExpansionPlan-creditInsideIndianaBusiness-PostedDailyBusinessNews-MHProNewsRVMHHallofFameNorthernIndianaEventCenterExpansionPlan-creditInsideIndianaBusiness-PostedDailyBusinessNews-MHProNewsThe Elkhart, IN based RV/MH Hall of Fame has released more details this week about their plans for their Northern Indiana Event Center, Inside Indiana Business tells MHProNews.

RV/MH Hall of Fame staff projects they will triple the available space, to take advantage of the lucrative event-planning market.

Darryl Searer, President of the museums operator, RV/MH Heritage Foundation, expressed missed opportunities in upwards of $100,000 for the year, due to current limitations.

In addition to taking advantage of future prospects, the center will also provide a tourism boost for the region and local economy.

Searer further explained the internal benefits specific to the industry:

These plans will allow us to grow with the RV and Manufactured Housing Industries, as well as the greater Elkhart community to service the event center needs, office needs and the long-awaited Scoular Manufactured Housing Museum. These plans will also insure a positive cash flow to make certain the Hall will be here forever.”

Searer expressed that fundraising efforts will play a major role in financing the $8 to $10 million expansion budget, while outlining the optimistic goal of a 2020 opening.

The photo above is an overview of the proposed plans for the 40-acre property and you can see the virtual tour of the expansion at this link here.

MHLivingNews previously reported on the expansion while highlighting the RV/MH Hall of Fame Class of 2016 Inducted Gala Ceremony in a story linked here.  ##

(Image credit, RV/MH Hall of Fame and Inside Indiana Business.)

FrankGriffinDailyBusinessNewDBNwriterMHProNewsManufacturedHousingIndustryNews75x75

Frank Griffin, Daily Business News, MHProNews.

Submitted to the Daily Business News by Frank Griffin, for MHProNews.

Manufactured Home can Provide Temporary Health Care

August 10th, 2016 Comments off

medcottage_n2care_credit postedDailyBusinessNewsMHProNewsMinnesota’s temporary family health care housing law will allow a modular or manufactured home or recreational vehicle to be sited on the property of a relative, legal guardian or caregiver for up to one year, as MHProNews has learned from abcnewspapers. The law would allow a structure of up to 300 sq ft.

The legislature included a provision that allows a city to opt out of the measure providing the city council acts before Sept.1.

Blaine, Minn., on the northern outskirts of Minneapolis, took the option and voted July 14 to opt out of the law. Essentially we’re talking about moving RVs into neighborhoods and setting them up as housing units,” Blaine Planning and Community Development Director Bryan Schafer said. “My understanding is most cities, at least the ones that are aware of this, are opting out.”

Blaine City Council member Dick Swanson says he understands the measure was driven by legislators in rural communities. The provision to opt out was raised by metro cities members.

As MHProNews reported Aug. 2, 2016, aging Baby Boomers will drive the need for Assisted Living homes that will allow seniors to age in place near loved ones. ##

(Photo credit: n2care–Med Cottage)

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

Wyoming City Finally Settles on MH and RV Ordinances

July 22nd, 2016 Comments off

Wyoming_Laramie__Mountain_View_Estates_laramieboomerang_Shannon_Broderick_credit postedDailyBusinessNewsMHProNewsFollowing a story MHProNews last posted July 19, 2016 regarding the updating of manufactured home regulations in Laramie, Wyoming, after years of delays, hesitations and changes, MHProNews has learned the Laramie City Council passed a final reading of a set of ordinances dealing with manufactured homes (MH) and recreational vehicles (RV).

With input coming from community owners as well as residents, many resisted a proposal limiting to 180 days the time an RV could remain in an MHC, as well as a provision that would prevent MH and RV from being in the same community.

Principal Planner Charles Bloom said staff drafted new ordinances removing the 180 day restrictions and allowing intermingling of MH and RVs in manufactured home communities (MHC). Secondly, city code was changed in its definition of MH to allow for the integration of RVs into the communities.

Essentially what it does is allows for up to 30 percent of spaces within a manufactured home community — so a community that is primarily manufactured homes — to be occupied by recreational vehicles, subject to a couple different requirements,” Bloom said. “In smaller parks where you might only have four or five units, we set it up so you can have two spaces occupied by recreational vehicles.”

The new ordinance requires an enclosed storage space of 48 feet if an MHC converts a site to RV usage, plus the RV must have hook-ups for water, sewage and electricity. The same standards would also apply to a tiny home if it should be sited in an MHC.

Additionally, skirting would be required on any RV that moved into an MHC, it should match the color scheme and be attached to the RV, according to laramieboomerang. The RVs registration and licensure must also be current, as dictated by local regulations.

Concerned that unscrupulous community owners might take advantage of the looser regulations surrounding RVs, Councilor Andi Summerville made a motion that would prevent RVs from being rented, which was seconded by Councilor Bryan Shuster. Another motion requires skirting to be administered to new RVs moving in within 14 days.

Both amendments passed, as did the ordinance rescinding the 180 day restriction and allowing for the intermingling of MH and RVs. ##

(Photo credit:laramieboomerang/Shannon Broderick–Mountain View Estates)

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

Patrick Completes Acquisition of Plastics Firm LS Mfg.

July 6th, 2016 Comments off

patrick_industries__elkharttruth__Emily_Pfund__credditMHProNews has learned from finance.yahoo that manufactured home and recreational vehicle component supplier Patrick Industries, Inc. (NASDAQ:PATK) has completed the acquisition of Vacuplast, LLC, d/b/a LS Manufacturing, Inc., producer of thermoformed plastic components, primarily for the recreational vehicle industry.

Founded in 2003, the company’s 12-months trailing revenue through May 2016 totals $12 million. Patrick acquired the LS for $11 million and expects it to be immediately accretive to 2016 net income per share. The acquisition includes accounts receivable, inventory, and machinery and equipment. In today’s trading, Patrick’s stock closed up 3.4% at $62.40, as MHProNews reported in the Daily Business News stock report, here. Patrick was the  top performing stock in  today’s trading of all the MH-related stocks we follow.

Todd Cleveland, Patrick’s CEO said, “In addition to increasing our RV content per unit, complementing our existing product portfolio at our Charleston operations, and bringing new and innovative product lines, the acquisition of LS Mfg. allows us the opportunity to further expand our presence and capabilities in the growing plastics market.”

LS Mfg. will continue to operate in its existing facility under its own name. With headquarters in Elkhart, IN, Patrick is a component supplier and distributor of building supplies of wide array to the manufactured home and recreational vehicle industries, as well as to a variety of other industries. ##

(Patrick Headquarters, Elkhart, IN.-credit=elkharttruth/Emily Pfund-postedDailyBusinessNewsMHProNews)

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

UFPI Acquires Distributor of Wood Products for MH

June 21st, 2016 Comments off

ufpi__creditA subsidiary of Universal Forest Products, Inc. (NASDAQ:UFPI) is acquiring Idaho Western, Inc., a Nampa, ID distributor of products for the manufactured home (MH) and recreational vehicle (RV) industries as well as for building materials retailers.

UFPI’s Caldwell, ID facility, which also supplies wood and wood products to the MH and RV industries, will be consolidated into Idaho Western, supplying customers in the Northwest with products ranging from lumber and siding to doors and plywood. Founded in 1978, its annual net sales are approximately $21 million, according to nasdaq.

This strategic acquisition will allow us to bolster our foothold in the manufactured housing and retail markets by expanding our product offering and our geographic reach,” said Universal Forest Products CEO Matthew J. Missad.

Headquartered in Grand Rapids, Mich., UFPI is a component supplier to the MH and RV industries. MHProNews tracks its daily stock report on our Daily Business News website. UFPI’s stock closed up in yesterday’s (June 20) session +1.74 percent at $88.40. ##

(Photo credit: Universal Forest Products, Inc.)

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

Patrick Acquires Mishawaka Sheet Metal

June 20th, 2016 Comments off

patrick_industries__insideindianabusiness__creditMHProNews has learned from prnewswire that Elkhart-Indiana-based Patrick Industries, Inc. (NASDAQ:PATK) has completed the acquisition of Mishawaka Sheet Metal, LLC (MSM), also based in Elkhart for approximately $14 million.

With revenues in 2015 of $28 million, MSM produces and distributes an array of aluminum and steel products for the recreational vehicle and industrial markets. Patrick CEO Todd M. Cleveland, noting Patrick’s capitalizing on MSM’s value-added manufacturing capabilities and products, said, “The acquisition of MSM provides us the opportunity to continue to penetrate adjacent industrial markets with our broad product offering and value proposition.”

Funded under the company’s existing credit facility, the acquisition includes accounts receivable, inventory, machinery and equipment. MSM will continue to operate under its own brand name.

Patrick is a component supplier to the manufactured home and recreational markets as well as to other industrial markets. ##

(Photo credit: insideindianabusiness)

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

Drew’s Net Income for Q1 Rises $16 Million over Last Year

May 9th, 2016 Comments off

drew_ind_2_logoConsolidated net sales for Drew Industries, Inc. (NYSE:W) for the first quarter ending March 31, 2016 rose 17 percent higher than the comparable period of 2015, to $423 million, yielding net income of $36 million, as prnewswire tells MHProNews. For the supplier of components to the manufactured home (MH) and recreational vehicle industries (RV), this equates to $1.45 per diluted share as compared to $20.1 million net income and $0.82 per diluted share for last year Q1.

The year-over-year sales increase reflects industry-wide growth in the RV market which rose by 11 percent in the first quarter. In April alone, Drew’s sales were 11 percent higher than the previous April, hitting $145 million.

Jason Lippert, Drew’s Chief Executive Officer, said, “This growth reflects the current strength of our industry, as well as the continued execution of our plan to drive growth in our primary areas of focus. This includes growth from acquisitions, focusing on the needs of the aftermarket customer, new markets for core products and organic growth from innovative new products, enhancements to existing products and market share gains. Of particular note, our net sales attributable to the aftermarket and adjacent industries increased during the 2016 first quarter by a combined $28 million, or 46 percent.”

The 2016 acquisitions Lippert referred to add $57 million in annual sales. Operating profit in Q1 of 2016 nearly doubled from Q1 2015, $32 million to $56 million in Q1 2016.

Lippert adds, we want to be “the supplier of choice for the industries we serve. We are excited by what the future holds as we continue to innovate and expand with new products, new customers, new markets and new geographies.” ##

(Image credit: Drew Industries, Inc.)

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

MHRE Expanding its National Footprint

May 4th, 2016 Comments off

MHRE_incMHProNews has been informed MHRE Inc., Manufactured Housing Group, the real estate brokerage and advisory company predicated exclusively in the manufactured housing and recreational vehicle asset class, announces it is expanding from its Detroit home office to open locations in Orlando, Fla. and San Diego, Calif. to better serve its clientele with a stronger national footprint.

To learn more, click here for their corporate press release. ##

(Image credit: MHRE Inc.)

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

Manufactured Home Community Closing, Relocation Resources Available

April 27th, 2016 Comments off

mhc thinkstock.com  creditShady Acres manufactured home community (MHC) in Kittitas County, Washington will be closing after the county agreed to buy the property for $1.45 million to expand recreational vehicle (RV) parking at the Kittitas Valley Event Center, according to information supplied MHProNews by dailyrecordnews.

Once the sale is finalized the residents of the 60 home site community will have one year to move. Kittitas County Commissioner Obie O’Brien said Friday there are many resources available to help people find housing, including a consultant Kittitas County has hired for $25,000 to assist people in finding alternative housing.

In addition to the thousands of dollars in state funds for relocation assistance, there are nine other MHCs in the county that may have home sites available. Other resources include Habitat for Humanity, the Kittitas County Housing Authority, and HopeSource.

O’Brien agreed there is an affordable housing shortage in Ellensburg, in south central Washington, but urged those who may own empty homes to consider renting them, since there are tax credits available for renting at less than full market value. He said the purchase of the MHC has been a long-range plan of the county for 30 years. ##

(Photo credit: thinkstock— manufactured home community)

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

Insider Trading at MH-related Firms

March 22nd, 2016 Comments off

stock_exchange_electronic_boar__neurolog_dash_kielceIn insider trading, Drew Industries, Inc. (NYSE:DW) insider Nick C. Fletcher sold 878 shares of Drew at an average price of $63.93 for a total value of $56,130.54.

The company reported a quarterly dividend for shareholders of record April 1, 2016 of $0.30 per share to be paid on April 15, 2016, representing a $1.20 annualized dividend. The yield, according to sfhfm, is $1.88%. Drew’s stock was off -1.28% to close at $62.64 in today’s session.

As MHProNews knows, based in Elkhart, Indiana, Drew is a component supplier to the manufactured home and recreational vehicle industries.

Meanwhile, across the country in Phoenix, AZ Cavco Industries, Inc. (NASDAQ:CVCO) Director Steven G. Bunger sold 5,500 shares of company stock at an average price of $89.82 for a total transaction of $494,010. Bunger now owns 2,500 shares of Cavco valued at $224,500.

Shares of Cavco in today’s trading slipped -0.62% to close at $87.89. Cavco produces manufactured and modular homes, modular commercial buildings and park models.

Returning to Elkhart, CEO Todd M. Cleveland of Patrick Industries, Inc. (NASDAQ:PATK) sold 1,515 shares pf company stock at an average price of $43.01 for a transaction value of $65,160.15. Cleveland now owns 409,898 shares of the company’s stock, valued at approximately $17,629,712.98. In today’s trading, Patrick gained +1.12% to close at $45.11.

Patrick Industries is a component supplier to the manufactured home and recreational vehicle industries.##

(Photo credit: neurolog-kielce–electronic stock exchange board)

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Article submitted by Matthew J. Silver to Daily Business News-MHProNews.