CAV To Build 2000 Homes for FEMA
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Cavalier Homes, Inc. (Amex: CAV) entered into an agreement, effective today, with Georgia-based Circle B Enterprises, Inc. to build homes for delivery to the Federal Emergency Management Agency (FEMA) as part of that agency's disaster relief for the Gulf Coast states recently hit by Hurricane Katrina. Under the agreement, Cavalier will build approximately 2,000 single-section homes, which will generate revenue estimated in the range of $58 million to $63 million, depending on delivery locations. The Company will supply these homes from its plants in Georgia, Alabama and North Carolina, with deliveries expected to begin within two weeks and being fully completed by December 2005.
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