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Late News.(Oster Homes sold to Hovnanian Enterprises Inc)(PSC Metals Inc. buys Knoxville Recycling Co.)(Greater Cleveland Regional Transit Authority gives contract fo Euclid Corridor project)
Crain's Cleveland Business, August, 2005 by Miller, Jay
BIG N.J. HOMEBUILDER BUYS OSTER HOMES * Oster Homes of Lorain has been sold to Hovnanian Enterprises Inc. of Red Bank, N.J., for an undisclosed amount of cash. Hovnanian said Oster Homes had 2004 revenue of $56 million on 247 home sales. Oster's current developments include Willow Creek in Avon and Martin's Run, an 81-acre senior and active adult community in Lorain.
It owns or controls 3,000 lots in the region. Hovnanian, a Fortune 500 homebuilder with $4.2 billion in 2004 sales, has a modest presence in Northeast Ohio with a program called "Build on Your Own Lot'' that has sales centers in Medina and Newcomerstown. Oster owners Evelyn and Tom Oster will remain with the merged operation. - Jay Miller PSC METALS CUTS DEAL FOR TENN. RECYCLER * PSC Metals...
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