Superior Walls Sees Double-Digit Growth in 2014
At the close of the third quarter for 2014, Superior Walls of America reported a 12 percent increase in year-to-date sales over the same January through September timeframe in 2013.
"During the past six months half of our licensee operations have reported million dollar plus months of production, which represents strong and steady sales for our company," says Keith Weller, CFO of Superior Walls of America. "The housing industry appears to continue its steady growth. This has resulted in increased use of our precast concrete foundation systems in new construction applications.
"Right now we're on track for an extremely impressive fourth quarter, and if weather conditions remain good I expect the year to close strong. My feeling is that Superior Walls system revenue should end up between 12 and 15 percent above our 2013 numbers by the time our year is over. If this occurs, it will be the second consecutive year we've had double-digit year-over-year growth since the housing bubble burst."
Licensees of Superior Walls of America manufacture precast concrete panels at facilities across the country that are used to form foundations for new construction homes and commercial projects. The Superior Walls insulated precast concrete wall systems have earned the National Green Building Standard™ Green Certified Product designation by Home Innovation Research Labs (formerly the NAHB Research Center). For homeowners, the benefits of Superior Walls foundations systems are substantial. The energy-efficient walls help lower energy costs and reduce energy leakage while providing increased living space in a comfortable setting.
Midwest and New Jersey: Construction Hot Spots
Weller reports that sales have been especially strong for Superior Walls in the Midwest and New Jersey areas during 2014. For Great Lakes Superior Walls out of Hamilton, Michigan, this continues the strong results seen previously in 2012 and 2013.
"The Midwest is pushing forward with accelerated construction that has an extremely positive impact on our business," says Weller. "I expect this will continue steadily into 2015."
In New Jersey, Northeast Precast has seen about 50 percent growth over the same period last year. According to company leadership at that Superior Walls licensee, the increase has come about because of several factors, including Hurricane Sandy recovery, increased desire by homeowners for new homes with finished basements and a strong north Jersey economy. The company also cites the growth of government-backed multi-family moderate- to low-income developments and the migration of people from Manhattan where real estate prices are exceptionally high to the commutable areas of north Jersey.
For more information visit www.superiorwalls.com.