Luxor’s First Half of 2016 Sales Exceed $10.8 Million
VANCOUVER, British Columbia, July 21, 2016 (GLOBE NEWSWIRE) — Luxor Industrial Corporation (TSX-V:LRL) (OTC:LXRRF) is pleased to announce that its first half 2016 sales exceeded $10.8 Million compared to $1,688,000 for the same period in 2015. The increase in sales is the result of Luxor entering into the framing business in the United States and Canada in 2016. Luxor’s subsidiary, Mill Frame LLC 2016 USA turnkey framing contracts to date total approximately US $ 19 million or Can $ 25 million. Luxor is pleased with progress to date on completed projects and those in progress with all projects being on budget and on time.
Luxor’s subsidiary, Mill Frame Inc, was awarded a labor only framing contract for approximately $600,000 for the Creek Stone Mountain Lodge project in Canmore, Alberta by Spring Creek. Framing commenced this week on this project. Mill Frame Inc. personnel have a successful track record with Spring Creek and expect to receive more projects from Spring Creek in the forward period.
About Luxor Industrial Corporation
Luxor has vertically integrated through the recent acquisitions of turnkey framing companies in Canada and the United States. The Company now distributes Pre-Fabricated Wall Panels and a complete line of Multi-Family Engineered Lumber. http://www.millframe.com
Luxor is involved in the development, engineering, manufacturing and marketing of engineered wood products. In the industrial sector, it manufacturers wood mat products. In the residential sector it manufactures its patented IBS 2000® engineered floor bridging, fire protected architectural wood products, and FastFrame™ wall components. For further information, visit Luxor’s website at www.luxorcorp.com.
This news release contains forward looking statements. Although Luxor believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Luxor can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Additional information may be accessed through the Sedar website: www.sedar.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT: Contact: Luxor Industrial Corporation Terry Lashman (800) 665-2454 (604) 684-7929 John Taylor (877) 496-4355 (604) 864-9601 www.luxorcorp.com