PrecisionCraft Log & Timber Homes Agrees to Acquisition by PFB Corporation
A leader in the log home industry, PrecisionCraft Log & Timber Homes, has entered into an agreement that will enable them to expand their services and product line, while better preparing themselves for the upcoming changes in the home-building industry.
November 11, 2010 -- Mr. Jim Young, President of Precision Craft announced that PrecisionCraft has entered into a letter of intent to be acquired by PFB Corporation from Calgary, Alberta, Canada. PFB Corporation operates several manufacturing facilities in Canada and the United States producing insulation and other building products.
Part of the PFB family of building products includes Riverbend Timber Framing and Insulspan Structural Insulated Panels (SIPs) located in Blissfield, Michigan and Vancouver, BC. PFB Corp. plans to combine these organizations with PrecisionCraft to form a new operating subsidiary. The headquarters for the newly formed company will be located in Meridian, Idaho and will be headed by Mr. Young as Chief Operating Officer.
Mr. Young's enthusiasm for this venture is evident. "Joining forces with PFB is a really good move for PrecisionCraft and provides us greater resources and financial strength," Young stated. "It will be good for our employees and we hope to grow and expand our facilities here in Idaho."
By working together, the newly formed PrecisionCraft, Riverbend, and Insulspan group plans to design and build a new generation of energy efficient, healthy homes made from solid wood and super insulated structural panels. "We will continue to design and build the beautifully crafted log and timber homes we are known for," said Young, "as well as other energy efficient forms of housing that utilize structural insulated panels. Our expertise in log and timber construction gives us the perfect platform to adapt componentized construction to a broader category of housing."
Although current new-home construction levels are at a record low, Young points out that this trend will not last forever. "We need to be ready to take advantage as the market cranks back up, and at the same time, be able to adapt to the changing building codes." Adds Young, "We have stayed strong through the recession, but with expanded resources and a parent company that is one of the World's leaders in green building technology, we can deliver quality homes that will exceed the new energy-efficiency building codes."
Over the last 20 years, PrecisionCraft has shipped products throughout the United States and Internationally. "We are lucky to have a broad market area in which to sell our products," said Young. "We’ve had a great deal of support from the Idaho Department of Commerce and Governor Otter, which has helped us market our products all over the World."