KISSIMMEE – With nearly
80 years of history behind it, builder and developer Avatar Holdings
Inc. is changing its name. The new company name is AV Homes Inc., and
its shares began trading on NASDAQ under the ticker symbol AVHI earlier this month.
According to Avatar’s announcement, the new name will better communicate
the company’s business identity to its customers, while still keeping a
reference to its long history. It says the name change is just one part
of a campaign to position the company for the expected recovery in the
new home market.
Founded in 1933, AV Holdings endured the Great Depression and operates
in a number of business sectors, such as finance, insurance, utilities
and manufacturing. AV Homes Inc., based in Kissimmee, is engaged
in homebuilding, land development and other real estate operations in
Florida and Arizona. Recently, the company set its sights on active
adult communities for people 55 and older, as well as move-up buyers.
When asked about the name change on Wednesday, company Vice President
Carl Mulac told the Orlando Sentinel that it cost the company “a lot” to
compete online because most Internet searchers for “Avatar” brought up
websites dedicated to the popular movie.
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