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Collective Bargaining Agreement Covering Employees of Cavco’s Emlenton, Pennsylvania Plant Expires
PHOENIX, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Cavco Industries, Inc. (Nasdaq: CVCO) ("we," "our," the "Company" or "Cavco") announces that as of today, the
About this update from Cavco Industries, Inc.
PHOENIX , Feb. 29, 2024 (GLOBE NEWSWIRE) -- Cavco Industries, Inc. (Nasdaq: CVCO) ("we," "our," the "Company" or "Cavco") announces that as of today, the collective bargaining agreement between Pennwest TCC and The International Association of Machinists , which represents employees at the Company’s Emlenton, PA manufacturing plant, has expired. As a result, the Union employees elected to go on strike. We are eager to get back to the negotiating table and continue bargaining in good faith toward a contract that recognizes the Company's commitment to our employees. Negotiations are expected to resume early next week. About Cavco Cavco Industries, Inc. , headquartered in Phoenix, Arizona , designs and produces factory-built housing products primarily distributed through a network of independent and Company-owned retailers. We are one of the largest producers of manufactured and modular homes in the United States , based on reported wholesale shipments. Our products are marketed under a variety of brand names including Cavco, Fleetwood , Palm Harbor , Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood and MidCountry. We are also a leading producer of park model RVs, vacation cabins and factory-built commercial structures. Cavco’s finance subsidiary, CountryPlace Mortgage , is an approved Fannie Mae and Freddie Mac seller/servicer and a Ginnie Mae mortgage-backed securities issuer that offers conforming mortgages, non-conforming mortgages and home-only loans to purchasers of factory-built homes. Our insurance subsidiary, Standard Casualty, provides property and casualty insurance to owners of manufactured homes. For additional information, contact: Mark Fusler Corporate Controller and Investor Relations [email protected] Phone: 602-256-6263 On the Internet: www.cavcoindustries.com Source: Cavco Industries, Inc.
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