VANCOUVER, British Columbia, May 16, 2011 (GLOBE NEWSWIRE) -- Luxor Industrial Corporation (Pink Sheets:LXRRF) (TSX-V:LRL) wishes to provide an update on corporate activities. Luxor's sales for the 12 month period ending December 31, 2010 were $1,199,502 compared to $1,109,708 for the same period in 2009. The loss for the period, before Amortization, was $231,909 compared to $278,399 for the same period in 2009.
Luxor has maintained and now increased sales levels by developing new wood product lines. In the first four and a half months of 2011 Luxor's sales are in excess of $1,300,000, which is greater than total 2010 sales.
In November, 2010 Luxor started shipping engineered wood products for custom buildings in a large project. Sales have now been confirmed for 112 buildings, extending Luxor's order file into August, 2011.
In June 2010, the Company advised that it had received orders to provide value added services for specialty wood products used in the oil and gas sector. This has become an ongoing business with Luxor now manufacturing a second line of products. The Company is working with its customers to develop additional product lines.
In 2010, Luxor sold coated wood products for residential and commercial units. These shipments generated considerable interest and Luxor is now in final discussions with EcoBlu Products Inc. (OTCBB:ECOB) to coat wood products with EcoBlu's patent-pending Red Shield™, which protects wood products against fire, mold, termites and other ingesting insects.
Recently, the Company announced that it had received Evaluation Report # 12694-R from the Canadian Construction Materials Centre for its IBS3000™. This Report constitutes National Building Code of Canada approval. The Company has submitted a patent application for IBS3000™ and will launch product sales during the month of May.
Luxor continues to anticipate significant sales growth in 2011 based on progress made with new product lines and 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 will offer 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