Eco Building Products expands its production capabilities
Eco Building Products, Inc. is beefing up its production through the purchase of additional automated coating equipment and the use of a currently operational facility in Augusta, Ga.
The increased production capacity will help boost panel production to meet increasing big box demands, especially in the Northeastern U.S, the company said.
"The demand in the northeast started with one house, and today we are positioned with multiple coating lines and affiliate production facilities to support that market," said president and CEO Steve Conboy. "More recently, Eco sold a whole-house pack into Omaha, Nebraska and already the supply chain is calling for Eco Red Shield protected lumber. In the Pacific Northwest, Eco’s Salem facility remains fairly busy with lumber distributors like Shelter Products and Blazer Industries sending product in for coating services to support production jobsites in Texas, Colorado and pre-fab buildings heading off-shore into Hawaii."
The company will also refurbish an existing production line under the provisions of its quality control program. The line is outfitted with pre- and post-conditioning tunnels for added quality.
"We are expecting the same in the south as we are getting calls from distributors already," added Conboy. "Once we raise the Eco Flag in the south, it is certain that the market will come to Eco for coating services because we are convincing the lumber industry Eco is the best in the business and here to stay."
Centex Homes recalls solar panels, citing fire hazard
Centex Homes is recalling approximately 240 homes’ worth of SolarSave roof panels, which have been reported to pose a fire hazard.
So far, two incidents have been reported involving roof fires in or near the panels, both in homes sold by Centex. No injuries have yet been reported.
The recall affects Open Energy 34 watt (OE-34) Solar Panel energy systems sold under the brand name Open Energy SolarSave Roofing Tiles. The affected modles are brown, terracotta and gray OE-34 SolarSave tiles installed on new homes sold by Centex.
Centex says it has directly contacted the customers impacted by the recall and performed free installations of new solar panels.
P&F Industries points to growth of tool-segment
P&F Industries, Inc. reported a strong finish to the full-year period ended Dec. 31, 2013, with an especially large boost in Tools revenue that the company attributes to its entry into The Home Depot.
"Our consolidated 2013 revenue increased 27.0% when compared to 2012’s revenue," said chairman, CEO and president Richard Horowitz.
For the three-month period ended Dec. 31, revenue was $15.4 million, up 21.3% year-over-year. Income for the quarter was $919,000, more than double that of the same period a year before.
Full-year 2013 revenue came in at $76.1 million, up from $59.9 million in 2012. Net income was $3.2 million, down from $5.4 million the year before.
"Although we are reporting an increase in our income before income taxes of approximately $1.3 million, our net income after taxes declined," added Horowitz. "As the result of a lapse of the statute of limitations on an uncertain tax position, during the fourth quarter of 2013 we realized a tax benefit of $329,000. As a result, our net income after taxes for the 2013 fiscal fourth quarter was $919,000, compared to $342,000 in the same period in 2012."