OXFORD — The president of Excel Homes, a Pennsylvania-based modular home-building company since 1984, said this week that plans to re-open the former Oxford Homes site on Route 26 were still on hold.
"We're still in the holding pattern," said Steve Scharnhorst, president and chief operating officer of Excel Homes. "The housing market has deteriorated."
Scharnhorst said he believes things will eventually turn around, but until the company sees increases in business, it is unlikely the Oxford site will reopen soon.
"The housing market is cyclical," he said. "We're at the bottom of a severe pullback."
Excel Homes bought the assets of Oxford Homes last summer after the manufactured-homes business ceased operations in April 2008. Company officials had hoped to reopen the plant this spring under the Excel name, bringing as many as 50 to 70 hourly and salaried jobs to the area.
In April, Scharnhorst said that even though the market was "tough," Excel was faring well in the Maine market but not well enough to open the plant at that time.
Excel Homes manufactures Excel and Avis Homes with facilities in Liverpool and Avis, Pa., and in Marlboro, N.Y.
The assets of the former Oxford Homes were purchased by Eco Systems Buildings in 2007. The company owed more than $318,000 in unsecured loans to nine creditors from across New England. The company was forced by the U.S. Bankruptcy Court in Portland to liquidate.
In April, Eco Building Systems laid off its 93 employees. The site has since remained closed.
ldixon@sunjournal.com
verified No, you can thank the libs in the federal government who wrote and/or voted for the regulations that forced the banks to write those loans for people who didn't qualify for them and didn't have a prayer of ever being able to repay them.
Who told you that? Rush? Sean? Glenn?
You are clueless...
No, you can thank the libs in the federal government who wrote and/or voted for the regulations that forced the banks to write those loans for people who didn't qualify for them and didn't have a prayer of ever being able to repay them.
You can thank all the banks for that..giving out loans that people can not afford to pay..
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