Luxor Prepares to Launch Sales of New Proprietary Coating Products
VANCOUVER, British Columbia, Dec. 29, 2010 (GLOBE NEWSWIRE) -- Luxor Industrial Corporation (Pink Sheets:LXRRF) (TSX-V:LRL) wishes to provide an update on corporate activities. Luxor received a 'Draft Report' from the Canadian Construction Materials Centre (CCMC) for its patent pending IBS3000™, its second generation engineered bridging that complements its patented IBS 2000®. The Company expects to receive CCMC's final approval in January 2011. The Company will launch product sales at that time. Racking stiffness values for IBS3000™ are slightly lower than IBS 2000® but IBS3000™ is substantially less expensive, providing significant potential for expanded sales.
While the North American housing market has been distressed for the past 3 years, Luxor has maintained and now increased sales levels by developing new wood product lines.
In November, Luxor received an initial engineered products order for a custom building in a large project. Sales have now been confirmed for an additional 27 buildings, extending the order file into March, 2011. The customer has advised its intention to purchase products from Luxor for all additional units, which would provide a steady order file in 2011.
In June, the Company advised that it had received orders to provide value added services for specialty wood products used in the natural resource sector. This has become an ongoing business and Luxor is working with the customer on other product lines.
Luxor recently shipped approximately 12,000 board feet of lumber and 100 units of panelboards treated with wood coating for a custom home. Luxor continues to work closely with its supplier, EcoBlu Products Inc., (OTCBB:ECOB) to take advantage of changes in Canadian building codes with respect to fire resistant wood building materials. EcoBlu Products, Inc has developed a Patent Pending product line of lumber treatments that employ protection against Fire, Mold/Mycotoxin, Termites and other wood ingesting insects. Luxor expects to use the new products in early 2011.
The Company recently announced it had extended its lease for 5 years with the city of Abbotsford for its 20,000 square feet manufacturing facility. Luxor has leased an additional 20,000 square feet of paved storage land to handle the increase in wood processing and has built steel racks to store engineered wood products up to 60 feet in length.
Luxor anticipates significant sales growth in 2011 based on progress made with new product lines during 2010. The Company will keep shareholders advised of further developments.
About Luxor Industrial Corporation
Luxor manufactures and markets its patented IBS 2000® and patent pending IBS3000™ engineered bridging. Both enable a floor to act as a system with unparalleled scale of gain in stiffness and rigidity. Luxor has spent years analyzing wood-frame floor construction, establishing itself as a leading authority in wood floor performance engineering.
Luxor also manufactures other building components, architectural and utility wood products including specialty products for the natural resource sector. It distributes laminated beams and offers various custom wood cutting services. Luxor offers coating services, which protect wood against mold, decay, and insects and provide fire protection.
The TSX Venture Exchange has neither approved nor disapproved this announcement
CONTACT: Luxor Industrial Corporation Terry Lashman (800) 665-2454 (604) 684-7929 John Taylor (877) 496-4355 (604) 864-9601 www.luxorcorp.com