VANCOUVER, British Columbia, Nov. 17, 2011 (GLOBE NEWSWIRE) -- Luxor Industrial Corporation (Pink Sheets:LXRRF) (TSX-V:LRL) is pleased to announce sales for the first 10 months of 2011 total approximately $ 2,610,000. This represents an increase of over 190 per cent in sales for the same period of 2010 which were approximately $ 896,000. The 2011 sales are in line with managements' forecasts and planning.
During 2011, the Company added two productions lines in two news buildings outside the main manufacturing plant and leased an additional 3.5 acres of property to handle the increased volume of wood. During the year the Company's workforce has more than quadrupled to more than sixty employees including two office staff to handle the increased sales and logistics.
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. The Company is meeting with its customers to establish additional product lines for new products which would require additional funding for property, facilities and machinery and equipment.
During the year, Luxor has been working on developing a heavy timber line for specialty wood products. It has completed initial engineering and will meet with interested customers in December, 2011.
Luxor continues to anticipate significant sales growth based on progress made with new and existing products 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 offers coating services, which protect wood against mold, decay, and insects and provide fire protection.
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