Archive

Posts Tagged ‘recreational vehicles’

Modular Workforce Housing Planned for Southwest Louisiana

July 24th, 2015 Comments off

MODS intern'l mktng   modularcatastrophic housing units  fox6now  creditA variance request by Ridge Park LLC to allow for the placement of 28 modified shipping containers for worker housing was passed by the Calcasieu Parish Planning and Zoning Board in Louisiana. The property had been re-re-zoned in 2013 from Agricultural and Mixed Residential to R-MHP — Manufactured Home Park, to allow for the siting of 13 manufactured homes (MH) and 28 recreational vehicles near Sulphur, LA just west of Lake Charles. Currently, there are 11 manufactured homes on the property, according to sulphurdailynews.

Staff of the Police Jury says although the units are not MH, they are instead modified according to the International Building Code (IBC), a set of regulations by which modular buildings typically abide. The Planning and Zoning Board does require the development to adhere to the 2013 site plan on file, and that a six-foot fence must be constructed around the dumpster and along the east property line.

As MHProNews reported Dec. 25, 2013, the South African Co. Sasol, Ltd. is building an ethane cracker and gas-to-liquid facility just east of Sulphur, LA. Up to 54,000 workers will be hired to construct the plant that will then employ 4,000. ##

(Photo credit: fox6now–modular container workforce housing)

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

Drew Industries to Release Second Quarter Financials

July 23rd, 2015 Comments off

drew_industMHProNews has learned from marketwatch that Elkhart, Indiana-based Drew Industries, Inc., (NYSE:DW) will release its Q2 2015 financials before the market opens on Tuesday, Aug. 4, 2015, to be followed by a conference call later that same morning at 11 AM EST to discuss the results and other business matters.

Participation in the call will be limited to institutional investors and analysts, although others may listen to a live webcast available on Drew’s website. The conference call will be hosted by CEO Jason Lippert, President Scott Mereness and CFO and Treasurer Joe Giordano.

Through it’s wholly-owned subsidiary, Lippert Components®, Drew supplies the manufactured housing and recreational vehicle markets with a wide array of components from windows, doors and chassis to upholstered furniture, awnings and stabilizers, from 40 locations throughout the nation. MHProNews follows Drew’s stock on its daily stock report. In trading today, Drew closed at $57.94, down -0.53 percent. ##

(Image credit: Drew Industries, Inc.)

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

Drew Draws Aces, Posting Record First Quarter 2015

May 5th, 2015 Comments off

drew_industNet sales for Drew Industries, Inc. (NYSE:DW) in the first quarter of 2015 rose to a quarterly record $361 million, 27 percent higher than for the same period 2014, resulting in net income of $20.1 million, $0.82 per diluted share, versus $16.2 million, or $0.67 per diluted share for the quarter ending March 31, 2014.

The growth in net sales is primarily the result of a 29 percent increase in net sales of the company’s recreational vehicle (RV) sector. While the RV segment accounted for much of the company’s growth, the manufactured housing (MH) segment’s net sales (OEMs) increased nearly eight percent, from $16.5 million to $17.8 million, Q1 2014 to Q1 2015. Operating profit for the MH sector grew from $2.3 million to $2.7 million, year-over-year.

Sales for April 2015 have already set a record for the month, hitting $129 million, 14 percent higher than April of last year, as marketwatch informs MHProNews.

With the strong underlying demand for our products in the first quarter of 2015, we achieved record net sales, the highest level for any quarter in Drew’s history,” said Jason Lippert, Drew’s Chief Executive Officer. “The industries we serve continue to grow, which, when coupled with our recent acquisitions, new products and market share gains, have led to the significant increase in our net sales for the first quarter of 2015.

Drew has acquired two additional subsidiaries in 2015: EA Technologies, a manufacturer of custom aluminum and steel parts, and provider of powder-coating services; and Spectal Industries, a Canadian producer of windows and doors for buses, emergency vehicles, RVs and trucks.

From 41 facilities across the nation and Canada, through its wholly-owned subsidiary, Lippert Components, Inc.,  Drew supplies components to the manufactured housing and recreational vehicle industries.##

(Image credit: Drew Industries, Inc.)

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

Executive Change at Manufactured Housing Component Supplier

April 10th, 2015 Comments off

drew_ind_logoManufactured housing component supplier Drew Industries, Inc. (NYSE:DW), of Elkhart, Indiana, has informed MHProNews that Joseph S. Giordano III, will be leaving his posts as treasurer and Chief Financial Officer (CFO) as of Aug. 31, 2015 to pursue other business opportunities. He joined Drew as Corporate Controller in 2003, and became treasurer and CFO in 2008. As MHProNews reported March 31, 2015, Mr. Giordano sold 19,500 shares of Drew stock with a value of $1,262,250.

James F. Gero, Chairman of the Board of Drew Industries, stated, “Joe has played an instrumental role in the Company’s growth and success for more than a decade, including during the 2013 executive succession and the relocation of the Company to Elkhart, Indiana. We thank him for his service and wish him the best in his future endeavors.

On behalf of all of us here at Drew Industries, Lippert Components, Inc., and our Board of Directors, I want to thank Joe for his service and wish him only the best going forward,” said Jason Lippert, Chief Executive Officer of Drew Industries. “Joe has helped build a strong financial team at the Company, which positions us well for the continued execution of our business strategies. We are highly appreciative of Joe and are confident in his abilities to keep our business on track as we evaluate external candidates for the role of CFO.

As cnnmoney reports, through its wholly-owned subsidiary, Lippert Components, Inc., from 38 facilities nationwide, Drew provides a wide range of products to the manufactured and modular housing and recreational vehicle industries, including axle and suspension systems, sliding doors, leveling mechanisms, furnishings, windows, doors, hydraulic systems and other items. ##

(Image credit: Drew Industries, Inc.)

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

Drew Board Authorizes Special Dividend for Shareholders

March 17th, 2015 Comments off

drew_ind_2_logoMHProNews has learned from prnewswire that the board of directors of Drew Industries, of Elkhart, Indiana, has declared a special dividend of $2.00 per share of common stock. The dividend is payable April 10, 2015 to shareholders of record as of March 27, 2015.

Drew is a supplier of components to the manufactured housing and recreational vehicle industries through its wholly-owned subsidiary, Lippert Components.

Drew’s CEO, Jason Lippert, said, We are pleased to demonstrate our continued commitment to shareholder value through this special dividend. It reflects the board’s confidence in the company’s consistent financial performance and in its long-term strategic goals.

Added Joe Giordano, Drew’s CFO and Treasurer, Our strong balance sheet and consistent cash flow positions us to continue to successfully execute on our strategy to grow sales through acquisitions, greater market share, and innovative new products.

Drew provides a multitude of components for both industries through 38 factories strategically located around the U. S. ##

(Image credit: Drew Industries)

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

Equity LifeStyle Properties Bests Zacks Prediction

October 22nd, 2014 Comments off

els__colony_cove_mhc__ellenton_flaAccording to CNBC, Chicago-based Equity LifeStyle Properties, Inc. (ELS) earned funds from operations (FFO) for Q3 2014 of $63.1 million, $0.69 per share, besting Zacks Investment Research estimate of $0.66 per share.

On revenues of $200.6 million, the REIT (real estate investment trust) reported net income of $25.7 million, or $0.31 per share. Company shares have gained 24 percent since Jan 1, 2014, closing in trading Tue., Oct. 21 up +2.83 percent at $46.27.

As MHProNews knows, ELS has an interest in 380 manufactured housing and recreational vehicle properties comprised of approximately 140,000 homesites across the U. S. and Canada.

ELS has long been one of the stocks tracked by the Daily Business News, see link here.##

(Photo credit: Equity LifeStyle Properties – Colony Cove MHC, Ellenton, Florida)

matthew-silver-daily-business-news-mhpronews-com(Submitted by Matthew J. Silver to the Daily Business News-MHProNews)

Patrick Industries to Disclose Q3 Financial Report

October 21st, 2014 Comments off

patrick_ind_logoElkhart, Indiana-based Patrick Industries, Inc. will release its third quarter 2014 financials prior to the opening of the market on Thurs., Oct. 30, followed by a conference call at 10 AM eastern time that same morning.

The call will be hosted by president and CEO Todd Cleveland and CFO Andy Nemeth, and the Q & A session will be limited to institutional investors and analysts, according to rvbusiness. The company is a producer and distributor of component parts for the manufactured housing and recreational vehicle markets. As MHProNews  reported Thurs., Oct. 20, Patrick’s stock gained 2.30 percent to close at 39.83. ##

(Image credit: Patrick Industries, Inc.)

(Submitted by Matthew J. Silver to the Daily Business News-MHProNews)matthew-silver-daily-business-news-mhpronews-com

Al Hesselbart Leaving RV/MH Museum after 20 Years

October 16th, 2014 Comments off

al_hasselbart__rv_mh_museum_creditRV/MH historian, lecturer, author and librarian Al Hesselbart is retiring after serving the RV/MH Hall of Fame & Museum in Elkhart, Indiana for 20 years, MHProNews has learned.

Carl Ehry, then president of the RV/MH foundation, which at the time was nearly bankrupt, was told if he wanted to be paid he needed to raise the money himself. He hired Hesselbart in 1994 as vice president and general manager while he went on the road to seek funding.

Little did I know it at the time, but that turned out to be a life-changing experience,” recalled Hesselbart. He became a one-man show at the struggling facility, keeping books, serving as manager, Carl’s secretary, bookkeeper and janitor. During those years he read voraciously about the MH and RV industries and by the late 1990’s he became the authority on the history of the two industries and was invited to speak at RV rallies and shows. In 1999 when the decision was made to build a new facility, Hesselbart maintained the records for the capital campaign.

One of his career highlights was the invitation to speak at a Chinese Outdoor Lifestyle Show in 2010, establishing him as an authoritative RV historian. And in 2012: I was even more overwhelmed when I was invited back in 2012 to be one of the keynote speakers at the 1st National China RV Rally.”

As for his future plans, he enjoys sharing his knowledge of the MH and RV industries, and will continue to speak at rallies and shows. Beyond that, he says, “There are too many roads I haven’t traveled and a lot of fish that need catching so I’m going to get behind the wheel of my motorhome and see where the road takes me.”

Darryl Searer, president and chairman of the Foundation, says,The board of directors and I thank Al for his many years of service to the Foundation. We’re confident that all his dreams will come true on whatever new roads he travels, and we wish him success in his new role as an independent RV historian.” ##

(Photo credit: RV/MH Hall of Fame & Museum–Al Hesselbart with his Newell motorhome and Charlie)

 matthew-silver-daily-business-news-mhpronews-com(Submitted by Matthew J. Silver to the Daily Business News – MHProNews.com)

 

Congressmen Stutzman and Walorski backing bill distancing RVs from Manufactured Housing definitions

October 10th, 2014 Comments off

IN-congressmen-marlin-stutzman-jackie-walorski-credit-wikipedia-posted-daily-business-news-mhpronews-com-Congressmen Marlin Stutzman (R-3 IN) and Jackie Walorski (R-2nd IN) announced Thursday October 9th legislation they’ve introduced legislation aimed preventing recreational vehicles from being regulated as manufactured housing.

Brian Francisco at the Fort Wayne Journal Gazette tells MHProNews that the RV industry is seeking to avoid “restrictive taxing, zoning and consumer lending rules if certain vehicles are considered manufactured housing and regulated by the U.S. Department of Housing and Urban Development.

Department of Housing and Urban Development (HUD) Manufactured Housing program director, Pam Danner, published official guidance on HUDs rule regarding what constitutes a manufactured home under the code. Danner’s HUD memo – which would count porches as part of their 400 square foot or less exemption limit for RVs – and MHARR’s commentary, are linked here.

The issue is thorny for many in manufactured housing, as some HUD Code home producers are in both RV and MH. Further, a number of manufactured housing communities look to the RV industry to fill certain smaller or older sites. States like IN, MI and MT have joint RV-MH associations.

Meanwhile, manufactured housing purists want to draw a line in the sand, without creating friction with their sister industry. Manufactured homes – in its pre-HUD Code ‘Mobile Home’ days – historical evolved from the RV business. The generally warm ties between the two are exemplified by the joint RV MH Hall of Fame.

Indiana’s robust RV industry should not have to fear that Washington bureaucrats will suddenly change the rules on them,” Stutzman said Thursday in a statement.

His and Walorski’s bill is House Resolution 5658 and titled the Recreational Vehicle Certaintly Act of 2014. They said their bill defines RVs “to ensure that they clearly and consistently remain distinct products from manufactured homes.”

With RVs out shipping manufactured housing by roughly 5 to 1, it will be interesting to see how this bill fares compared to HR 1779/S 1828. Strategically, some key players in MH want to see the RV industry support the reforms of the CFPB through that legislation. ##

(Photo credit of Congressmen Marlin Stutzman (R-3 IN – left) and Jackie Walorski (R-2nd IN – right), Wikipedia)

(Editor’s note: Related story on CFPB and MH financing, linked here, may suggest why RVs are trying to escape CFPB financing and HUD regulations. RVs are currently regulated at the federal level by the National Highway Transportation Safety Administration, and are not treated as permanent housing under federal law).

Gabelli unloads Skyline Corp. Stock

September 25th, 2014 Comments off

OLYMPUS DIGITAL CAMERAMario Gabelli, with over $19 million invested in stocks, has reduced his position in Skyline Corp., a producer of manufactured homes and recreational vehicles, by 3.21 percent. He now holds 406,700 shares, which represents 4.85 percent of the company, according to yahoofinance.com. Gabelli has decreased his holdings in the company over the past several quarters. The shares of Skyline have dropped this year by 48 percent, closing at $2.71 Wed., Sept. 24. Although for its fourth fiscal quarter net sales rose to $57.7 million, an increase from $48.8 million the previous year, Skyline lost net $2.5 million this year as opposed to a net profit the prior year of $45,000. As MHProNews reported Sept. 12, 2014, an independent audit issued a “going concern qualification” for Skyline. ##

(Photo credit: Joe Kelly–Skyline modular home at Iowa State Home show)