British Columbia-based wood building component manufacturer Luxor attributes 168% sales increase to C$3.22M in 2011 to development of new product lines
VANCOUVER, British Columbia
February 8, 2012
– Luxor Industrial Corporation is pleased to announce sales for the 2011 totaled approximately $ 3,220,000. This represents an increase of 168 per cent in sales over 2010 which were approximately $ 1,200,000. Luxor has increased sales levels by developing new product lines. The 2011 sales are in line with managements' forecasts and planning.
The Company has added ENDURA-FORM multi-purpose construction panels as an affiliate partner. Luxor will add the panels, made from recycled materials, to its line of tundra mats that it supplies to oil and gas exploration companies. Luxor will pursue applications for these high end panels in other industrial sectors. More information on ENDURA-FORM panels is available on Luxor's website under 'Partners'.
During 2011, the Company added two lines in two new buildings outside the main manufacturing plant and leased an additional 3.5 acres of property to handle the increased volume of wood. During the year the Company's workforce has more than quadrupled to more than sixty employees including two office staff to handle the increased sales and logistics.
Luxor continues to anticipate significant sales growth based on progress made with new and existing products and will keep shareholders advised of further developments.
About Luxor Industrial Corporation
Luxor manufactures and markets its patented IBS 2000(R) and patent pending IBS3000(TM) engineered bridging. Both enable a floor to act as a system with unparalleled scale of gain in stiffness and rigidity. Luxor has spent years analyzing wood-frame floor construction, establishing itself as a leading authority in wood floor performance engineering.
Luxor also manufactures other building components, architectural and utility wood products including specialty products for the natural resource sector. It distributes laminated beams and offers various custom wood cutting services. Luxor offers coating services, which protect wood against mold, decay, and insects and provide fire protection.