British Giant Eyes Cavco Industries Holdings

Credits: Legal & General, Cavco, Open Clip Art.

Legal & General Group PLC, which has made significant moves recently in the manufactured and modular housing segments, held its stake in Cavco Industries Inc. (NASDAQ:CVCO) during the second quarter of 2016.

The Holdings Channel reports that Legal & General owned 1,255 shares of the company’s stock at the end of the quarter, valued at $114,000.

Another international investor, Swiss National Bank, raised its stake in Cavco Industries by 5.8 percent in the second quarter and now owns 14,500 shares of the company’s stock valued at $1.359M.

Cavco recently reported earnings per share of $1.03, which the Daily Business News covered here.

Legal & General Moves

Eric Dean, credit Builder.

Eric Dean, who serves as the innovation and production director for Legal & General Homes, Ltd, said that the British insurer’s goal is to be one of the largest homebuilders in the country.

Dean recently presented a new, Cross Laminated Timber (CLT)-focused manufacturing process as a way to make building single and multi-family homes easier by turning it into a prefabricated home assembly line.

A house is a very simple thing, but every time we build a house we seem to reinvent the wheel,” Dean told the audience at the FEA 2016 Forest Products Forum. “So we’ve done a seamless design process linked to a seamless manufacturing process. All through the process what we are doing is cutting out layers of people we don’t need.


Credit: Cavco.

Paul Stanworth, managing partner at Legal & General, also spoke positively about modular housing in response to the “Farmer Report,” produced by Cast CEO Mark Farmer.

This review sets out a clear way for the construction sector to reinvent itself in order to meet the ever-growing demand for homes and infrastructure,” said Stanworth.

Paul Sanworth. Credit: UK Infrastructure Investment.

Legal & General is helping to address this problem by investing in a modern factory to produce homes using manufacturing processes seen in the production of cars and other consumer goods.

This construction method is safe, clean, and fast, providing a high level of consistency and durability. We sincerely hope that Farmer’s review galvanizes the entire sector to invest in innovation and secure its future.” ##

(Editor’s notes: While some 95% of our audience is domestic, MHProNews’ international audience comes from nations that includes ‘investor nations.’  MHProNews is the runaway #1 source for industry pros, those professionals following/tracking the industry and is still growing.  Our sister publication, is the big #1 on the public-facing side, and is also growing rapidly.)

(Image Credits are as shown above.)

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

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