Diversification, innovation and new markets expand its scope
TROY, Mich., Sept. 30, 2008 – Champion Homes, a leader in factory-built construction, the largest modular homebuilder in North America and builder of Genesis Homes, celebrates two significant milestones in its long-established history: its 55th anniversary of building factory-built homes and the announcement today that it reached an unprecedented 1.7 million homes built as of June. However, single-family homes are not the only type of structure the Company is keeping track of these days.
“In 1953, when we started building manufactured homes in a single factory in Dryden, Mich., I don’t think anyone imagined how far we could go,” said Bill Griffiths, chairman, president and CEO of Champion Enterprises.
“Through our expansion and diversification efforts, we now operate 33 factories and provide manufactured and modular
housing and modular commercial structures in national and international markets.” Acquisitions in Canada and the U.K. secured the Company’s position as an international supplier of factory-built construction.
Only a company with Champion’s established and extensive manufacturing capabilities and international footprint can supply modular structures for the innovative types of projects the Company is undertaking today:
· Commercial buildings – Champion and its Genesis by Champion modular construction is being used for quick and efficient construction of commercial structures around the country including quick serve restaurant (QSR) franchises, banks, office buildings and childcare facilities. The speed of modular construction is appealing because businesses are up, running, and generating revenue faster than with site-built construction.
· Hotels and resort structures – Owners and developers of resorts and hotels are using the company’s modularization process to save construction time, manage site-labor and costs, and reduce construction traffic and deliveries. A new and innovative approach to resort development will be introduced by the Company at the Urban Land Institute’s October national meeting in Miami.
· Multi-family structures – Champion and Genesis modular units are being used by builders/developers of two- and three-story residential apartment and town home developments across the country to provide affordable housing in both rural and urban markets. In the U.K. Champion’s Caledonian Building Systems supplies steel modular units for urban apartments and town homes beyond 3 stories.
· Military structures – Developers of military housing are drawn to the reduced construction and labor traffic Champion and Genesis modular construction provides to relieve on-base security concerns. Genesis recently provided modular units for the largest military installation in the country at Fort Lewis Army Post in Pierce County, Wash. where control of construction traffic was a key issue. Champion’s Caledonian Building Systems provides modular steel framed barracks in the U.K.
· Residential over retail – This is a growing market segment interested in modular’s speed and quality control. Developers are finding that Champion modular units placed on top of a site-built podium is a perfect marriage of traditional construction and innovative Champion factory-built solutions.
· Urban in-fill – Throughout the U.S., Champion companies have provided modular, architecturally-consistent homes and structures that are easily adapted to and placed on tight urban lots Modular construction’s reduced labor traffic and material delivery congestion is less disruptive in busy urban settings than site-built. But, it is the design flexibility and speed of construction the Champion companies provide that is most appealing to urban builders, developer, and planners.
· Multi-story steel construction - In the U.K., Champion’s Caledonian Building Systems produced a steel-framed, 17-story student and workforce in-fill housing project for Thames Valley University. The final project included both student flats and workforce housing in a restricted urban setting in Brentford, a west London neighborhood.
“Builders and developers around the world are looking for solutions to the challenges inherent in traditional site building,” says Kevin Flaherty, Genesis vice president of marketing. “By utilizing our innovative modular approach, forward-looking builders, developers and planners are realizing solutions to labor shortages, subcontractor management issues, quality control, certainty in cost, and speed to market. It’s a more efficient way to build.”
Champion Then, Now and Tomorrow
In 1953, the Company was founded as Champion Home Builders in Dryden, Mich. Today, listed on the New York Stock Exchange, it is a diversified provider of homes and other modular structures in North America and the United Kingdom. The Company continues to develop modular products for new and emerging markets everywhere.
“Our longevity and success are a tribute to the visionaries who started the Company and the employees who built and continue to grow it. As we look at markets throughout the world, both domestic and international, we see opportunities to provide our modular building approach to help accelerate community development, home ownership and commerce,” concluded Griffiths.
About Champion and Genesis
Genesis Homes is a member of the Champion family of builders. Troy, Michigan-based Champion is a leader in factory-built construction and along with its Genesis Homes, is the nation’s largest builder of modular homes. The Company operates 33 manufacturing facilities in North America and the United Kingdom working with independent retailers, builders and developers. The Champion family of builders produces manufactured and modular homes, as well as modular buildings for government and commercial applications. For more information, please visit www.genesishomes.com or www.championhomes.com .
Contact: Christine Fisher