June 10, 2008
Home builder buys Oxford Homes facility
Excel Homes LLC, based in Camp Hill, in Pennsylvania, last Thursday agreed to purchase Oxford Homes' 40,000-square-foot manufacturing facility in Oxford from former owner Pete Connell, Steve Scharnhorst, Excel's president and CEO, told Mainebiz this morning. Scharnhorst would not disclose the sale price.
Excel Homes, which employs 500 people and had $100 million in sales in 2007, has sold its modular products in Maine since the late 80s. Scharnhorst said he bought Oxford Homes' facility so he could make homes locally, rather than transport them here from Pennsylvania. He wasn't sure when production would start but said he would hire local workers. "It's largely dependent on market conditions," he said.
Connell sold Oxford Homes' equipment to a group of investors last August, who renamed the company Eco Building Systems. The Oxford facility shut down in April because of slow sales. Oxford Homes still owes more than $300,000 to creditors, but Scharnhorst said he isn't responsible for the debt because he only purchased Oxford Homes' real estate.
Excel Homes, which employs 500 people and had $100 million in sales in 2007, has sold its modular products in Maine since the late 80s. Scharnhorst said he bought Oxford Homes' facility so he could make homes locally, rather than transport them here from Pennsylvania. He wasn't sure when production would start but said he would hire local workers. "It's largely dependent on market conditions," he said.
Connell sold Oxford Homes' equipment to a group of investors last August, who renamed the company Eco Building Systems. The Oxford facility shut down in April because of slow sales. Oxford Homes still owes more than $300,000 to creditors, but Scharnhorst said he isn't responsible for the debt because he only purchased Oxford Homes' real estate.
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