Canada’s Winalta Inc., which acquired RV builder Peak Manufacturing Inc. late last year, reported a net loss for fiscal year 2003 because of expenses related to the closure of its manufactured home assembly plant in Linton, Ind., late last year.
Winalta lost $482,000 (Canadian) during its fiscal year 2003, which ended on Oct. 31.
At current exchange rates, one Canadian dollar is worth 75.3 cents in U.S. currency.
Excluding the one-time-only expenses related to the closure of the Linton plant, Winalta would have reported net earnings of $4.2 million (Canadian) for fiscal year 2003.
Winalta, which trades its stock in Canada on the TSX Venture Exchange, earned $3.6 million (Canadian) in fiscal year 2002.
This year Winalta will focus on its core manufactured, modular and site-built home assembly operations in Canada along with the Vanguard Inc. RV-building operation it acquired from Peak, which was liquidated last year under the terms of Canada’s bankruptcy laws.
Winalta paid $6.4 million (Canadian) for the Vanguard RV-assembly operation in North Battleford, Saskatchewan, where the Frontier, Kodiak and Vanguard brands of Class C motorhomes, travel trailers and fifth-wheels are built.