Stegmayer Talks to Arizona Paper about Palm Harbor

The Arizona Republic ran a story this week about the efforts by Cavco to purchase bankrupt Palm Harbor Homes. The article notes that sales are at their lowest level in 50 years and Cavco is seeking to grow through purchasing another competitor. In August, 2009, Cavco bought Fleetwood Enterprises for $26.6 million. Cavco is attempting to buy Dallas-based Palm Harbor for $57.5 million. Cavco CEO Joe Stegmayer told the reporter the company is trying to grow in a down market and position itself for a turnaround.
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