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Summit Homes is Now K. Hovnanian Homes
CANTON, Ohio, Aug 9, 2004 (BUSINESS WIRE) -- One of the oldest and
best-known names in homebuilding is the newest name in Ohio.
Summit Homes, with sales centers all over Ohio and western Pennsylvania, is
now K. Hovnanian Homes. Purchased last year, Summit Homes has completed the
transition and now will be known by the new name. Together, the two
companies represent a century of homebuilding and commitment to quality and
customer satisfaction.
"We had several of the country's major homebuilders looking at us," said
Francis Saltalamacchia, formerly president of Summit Homes, now division
president of K. Hovnanian of Ohio. "We chose K. Hovnanian because during my
conversations with the company executives, I saw the same dedication to
quality and to customers that we believe in here. Joining with K. Hovnanian
gives us new resources we could never have as a local builder, even a large
one."
Saltalamacchia said the company is continuing its leadership in the
"build-on-your-own-lot" market in Ohio, Western Pennsylvania and West
Virginia. In addition, it is looking at other homebuilding prospects in the
region. K. Hovnanian, the nation's eighth largest homebuilder, is best-known
for its planned-development communities, active-adult communities and
community rehabilitation and renovation expertise. The company is looking
for opportunities to apply that knowledge in the region. Joe Riggs, group
president of K. Hovnanian Homes, said Ohio is a vibrant housing market.
"Fran's knowledge and success and the reputation of Summit Homes gives us a
great foundation for bringing our homebuilding style into the area while
continuing the excellent services for which Summit was known," Riggs said.
"This is an exciting opportunity for everyone to build on both companies'
reputations for quality, value, innovative techniques and customer
satisfaction."
K. Hovnanian Homes plans to expand the company's network of sales centers.
Saltalamacchia said he expected business to grow, along with the number of
associates.
"The future is very bright," he added.
K. Hovnanian Homes is one of the nation's largest homebuilders. It has
operations in 14 states including New Jersey, New York, Ohio and
Pennsylvania. During Fiscal 2003, the Northeast Region, which includes Ohio,
delivered 2,387 homes and employed about 800 people.
The parent company, Hovnanian Enterprises, Inc., is listed on the New York
Stock Exchange. The company designs, constructs and markets single-family
homes, townhouses and condominiums in planned residential communities. The
company also builds K. Hovnanian's Four Seasons(R) active-adult communities
and is a leader in community and urban rehabilitation.
For more information on K. Hovnanian, visit
www.khov.com or call 1-888-KHOV-FUN.
SOURCE: K. Hovnanian Homes
K. Hovnanian Homes
Doug Fenichel, APR, 732-623-6979
Cell Phone: 973-769-0688
Toll Free: 866-546-8771
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