ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Friday, December 13, 1996 TAG: 9612130075
SECTION: BUSINESS PAGE: B-6 EDITION: METRO
SOURCE: GREG EDWARDS STAFF WRITER
Radva Corp. will supply machinery for a new factory in Turkey that will make Radva's patented steel and plastic-foam building panels.
Radva will also hold a 5 percent minority interest in the new venture, Luther Dickens, president of the Radford company, said Thursday.
Esbas, a company that manages a large free-trade zone in Turkey, has bought an exclusive license to make Radva's Thermastructure building panels, Dickens said. Esbas has established a world center to showcase new housing technologies, and Dickens said the company will construct the building-panel plant there.
Plans for the factory include a public viewing area where visitors can watch building panels being made, Dickens said. The center, where 200 companies are already represented, draws business people from around the world, and the exposure of its product will be good for Radva, Dickens said.
"I'm pleased to be involved in setting this up, because it showcases not only our panels but our ability to produce world-class machinery," Dickens said. "It's a long, slow process getting recognized when you're a small company on a limited budget."
Earlier this year, a model house that was manufactured in Radford was shipped to Turkey, where it was erected and displayed as part of the Habitat 2 Exposition.
Radva makes plastic-foam packaging material, the company's primary business, at plants in Radford and Portsmouth. The building-panel machinery is made in Radford, where Radva also operates a small company that packages and exports building supplies.
The company owns 19 percent of Thermastructure Ltd., which manufactures its panels at another Radford plant under the name Therma Steel.
Radva's building panels, customized to individual building projects, are competitive with conventional building methods in materials cost and have a big edge in labor, energy and maintenance costs, Dickens said.
Last year, Radva reported net income of roughly $500,000, the fifth straight year the company has reported a profit, Dickens said.
Plants in Russia, Guam and Australia also make Radva's building panels. The Russian plant, in which Radva holds an interest, is in the city of Pereslaval-Zalessky and operates under the company name Radaslav. The company employs 100 people and supports another 1,100 people who work for independent contractors that erect homes from the building panels, Dickens said.
LENGTH: Short : 50 linesby CNB