Cavco Industries Opens New Manufacturing Facility in the Tarheel State: Cavco Homes of North Carolina
04 Oktober 2022 - 2:00PM
Cavco Industries, Inc. (Nasdaq: CVCO) (“Cavco” or the “Company”)
today announced that the Company has opened its newest
manufacturing facility in Hamlet, North Carolina. Known as “Cavco
Homes of North Carolina,” the 184,000 square-foot-plant will
produce homes built under the standards of the U.S. Department of
Housing and Urban Development ("HUD code"). The opening comes
approximately seven months after Cavco acquired the facility from
Volumetric Building Companies ("VBC"), which used the facility to
produce multi-family residential and commercial projects and has
since moved that production to their markets in the Northeast.
Cavco offered continued employment to previous VBC employees,
including management staff, and additional employment opportunities
are anticipated to become available with the expansion of its
homebuilding production.
"At Cavco we are intensely driven to provide
solutions to the pressing need for affordable homes,” said Bill
Boor, President and Chief Executive Officer of Cavco. “The addition
of the Hamlet facility to our growing network of 27 plants across
the country is a step forward on that path. This has been a great
opportunity to quickly bring new capacity online with an in-place
and capable workforce. From the beginning, it was a primary
objective for both VBC and Cavco that we maintain continuous
employment for the people at the facility; and through careful
planning and coordination, we have been able to do so. We’re very
excited about the important role Hamlet will play in Cavco’s future
for many years to come."
Cavco has distribution points in 48 U.S. states
and in Canada, through its 45 retail stores and 27 production
plants, while employing over 6,300 people. In fiscal year 2022, the
Company delivered over 16,700 homes, provided over $141 million in
financing to homebuyers, insured homes for over 63,600 homeowners
and provided fast and efficient claims assistance to over 5,600
homeowners. Cavco is the third-largest U.S. builder of manufactured
homes, with a 14% share of that market.
For more information on Cavco Industries, visit
cavcoindustries.com.
Click to tweet: .@CavcoIndustries opens new
manufacturing facility in the Tarheel State: Cavco Homes of North
Carolina; #manufacturedhousing; #construction; #manufacturing;
#Cavco; #jobs; #hiring; #employment. Learn more at
https://investor.cavco.com/press/.
Media ContactWallace
CampbellDirector, CommunicationsCavco Industries,
Inc.602.283.9027wallace.campbell@cavco.com
About Cavco Industries,
Inc.Cavco Industries, Inc., headquartered in Phoenix,
Arizona, designs and produces factory-built housing products
primarily distributed through a network of independent and
Company-owned retailers. We are one of the largest producers of
manufactured and modular homes in the United States, based on
reported wholesale shipments. Our products are marketed under a
variety of brand names including Cavco, Fleetwood, Palm Harbor,
Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny,
Commodore, Colony, Pennwest, R-Anell, Manorwood and MidCountry. We
are also a leading producer of park model RVs, vacation cabins and
factory-built commercial structures. Cavco's finance subsidiary,
CountryPlace Mortgage, is an approved Fannie Mae and Freddie Mac
seller/servicer and a Ginnie Mae mortgage-backed securities issuer
that offers conforming mortgages, non-conforming mortgages and
home-only loans to purchasers of factory-built homes. Our insurance
subsidiary, Standard Casualty, provides property and casualty
insurance to owners of manufactured homes. Additional information
about Cavco can be found at https://www.cavcoindustries.com.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/11208ee9-49f0-4dfb-9187-c409abb85809
Cavco Industries (NASDAQ:CVCO)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Cavco Industries (NASDAQ:CVCO)
Historical Stock Chart
Von Sep 2023 bis Sep 2024