VANCOUVER, B.C., Sept. 6, 2011 (GLOBE NEWSWIRE) -- Luxor Industrial Corporation (Pink Sheets:LXRRF) (TSX-V:LRL) is pleased to announce sales for the first 8 months of 2011 total approximately $ 1,970,000. Sales for the 6 month period ending June 30, 2011 were $ 1,250,196, compared to $ 582,235 for the same period in 2010, and exceeded total 2010 sales of $ 1,199,502. Luxor has increased sales levels by developing new wood product lines.
The Company continues to receive increased orders to provide value-added services for specialty wood products used in the oil and gas sector and is working with its customers to develop additional product lines. Luxor has added a third production line with two production lines in new buildings outside the main manufacturing plant. During the year the Company increased production by adding a second shift, and the workforce has more than tripled to in excess of 50 employees. An additional 3.5 acres of property have been leased to handle the increased volume of wood.
The Company has shipped engineered wood products for 112 custom buildings in a large project.
Luxor is coating wood products for residential and commercial units for EcoBlu Products Inc. 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 IB 3000™. This Report constitutes National Building Code of Canada approval. The Company has submitted a patent application for IBS 3000™ and is launching product sales in the current quarter.
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 IBS 3000™ 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.