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December 16, 2009

Mod home builder scraps Oxford restart

By The Mainebiz News Staff

Excel Homes, the Pennsylvania-based company that last year bought a modular home builder in Oxford, has abandoned its plans to reopen the facility.

Steve Scharnhorst, president of Excel Homes, told the Sun Journal that poor market conditions made it impossible for his company to reopen the former Oxford Homes as originally planned when the company bought Oxford's assets in June 2008. Excel let its lease on Oxford's 46,000-square-foot building run out, and that building was sold at an auction last month for $562,000 to its mortgage holder, Zions First National Bank in Salt Lake City, Utah, according to the paper. Excel had planned to restart work at the facility last spring and hire 50 to 70 employees. Despite the move, Scharnhorst told the paper the company could still enter the Maine market at some point.

Once a major employer, Oxford Homes was forced by bankruptcy to liquidate in 2007, and a group of investors purchased its assets and renamed the company Eco Building Systems. Slow sales in 2008 forced Eco Building to close the facility and lay off its 93 employees.

Go to the article from the Sun Journal >>

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