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State Grants for Businesses Attracting New Modular Builder, Tech Companies

November 8th, 2017 Comments off

TruHomesMontanaModularHomeExteriorManufacturedModularHomeIndustryDailyBusinessNewsMHProNewsTechnology companies and a new modular home builder are among those that have obtained grants, or applied, to create more high-paying jobs over the next two years in, per the Missoulan, in Montana.

Nicole Rush, the grants manager for the Missoula Economic Partnership, spoke to the Missoula City Council last week and detailed a long list of companies in town that have applied for the grants,” said the Missoulan. “The money comes from the state’s coal severance tax, and the businesses can get reimbursed for up to $7,500 for each job created, as long as they pay at least 170 percent of the state minimum wage. To get the top award, each job has to pay the Missoula County median wage, which is $18.50 per hour.”

Since the program was created in 2005, Missoula has leveraged more job creation funds (than other Montana city),” Rush said.

Besides some tech companies, there is “Tru-Home Montana, a manufacturing company that is proposing to build sustainably-built, manufactured homes indoors, was awarded a grant to create six jobs,” per the Montana publication.

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But the homes – per the Tru-Homes Montana website – states the homes are modular homes, as opposed to HUD Code manufactured homes.

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According to the Tru-Homes Montana website, “Whether this is you first home, or your last, we’re here to help you create your dream home. We love to build Tru. Tell us your story. We’ll tell you ours.”

The modular firm says they expect to save about 20 percent off the cost of a conventional house, per their website. ##   (News, announcement, commentary.)

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Cavco Reaches Terms on Key Acquisition

March 31st, 2017 1 comment
CavcoReachesTermsonKeyAcquisitioncreditLexingtonHomes-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Lexington Homes.

Cavco Industries Inc. (NASDAQ:CVCO) tells MHProNews that it has signed a Letter of Intent, and has reached an understanding, on terms to acquire Lexington Homes, Inc.

The purchase of Lexington is expected to improve Cavco’s ability to participate in the growing Southeastern housing market, as well as better serve the needs of Lexington customers. The purchase price, due to be paid in cash at closing and funded with Cavco’s internal capital, was not disclosed.

The transaction is subject to the satisfaction of customary closing conditions.

Cavco has been in the news recently, and in their most earnings report, the company delivered $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.11.

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Credit: Cavco Industries.

Those results fueled investor activity, as JP Morgan Chase, BNP Paribas Arbitrage SA, and the Teacher Retirement System of Texas all either increased their stakes in the company or purchased new positions. Cavco was also recently featured as British insurance giant Legal & General made a significant move in its stake in the company.

As Daily Business News readers are aware, Phoenix, AZ-based Cavco Industries is one of the largest producers of manufactured homes, as well as a builder of modular and park model homes, vacation cabins and commercial structures. Factory-built homes are designed and produced under such brand names as Cavco Homes, Fleetwood Homes and Palm Harbor Homes.

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Cavco 1 year look. Credit: Bloomberg.

Lexington Homes provides affordable manufactured housing from its manufacturing plant in Lexington, Mississippi to its retail distributors in the Southeastern United States. The company was founded in 2004 by individuals with combined experience of over 100 years in the manufactured housing industry.

Cavco is also one of the manufactured home industry connected stocks tracked every business day by the Daily Business News, with the most recent report, linked here. ##

 

(Image credits are as shown above.)

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews