Clayton Homes, a component company of Berkshire Hathaway, is the United States' largest manufacturer of manufactured housing and modular homes.[not in citation given] The company is vertically integrated; it builds, sells, finances, and insures manufactured and modular homes. Additionally, the company builds and sells commercial and educational buildings. Clayton's corporate headquarters are in Maryville, Tennessee. It operates 35 manufacturing plants in the United States and markets its products in 49 states through 448 company-owned retail outlets and more than 1300 independent retailers. Its subsidiary Vanderbilt Mortgage and Finance, Inc., specializes in mortgages for manufactured homes. Another subsidiary, HomeFirst Agency, provides insurance for 160,000 families.
The company was founded by Jim Clayton in 1966. The company went public in 1983, trading on the New York Stock Exchange. It was acquired by Berkshire Hathaway Inc. in 2003 for $1.7 billion. Kevin T. Clayton, son of the founder, is current President and CEO.
As of 2007, the company website reported that Clayton owned and operated 68 manufactured housing communities and 12 subdivisions. However, in July 2007 Clayton contracted to sell 65 manufactured housing communities in 11 states. They produce homes under the brand names of Buccaneer Homes, Cavalier Homes, Clayton Homes, Crest Homes, Giles Industries, Golden West Homes, Hart Housing, Karsten Company, Marlette Homes, Norris Homes, Oakwood Homes, Schult Homes, Southern Energy Homes and TruMH.
Clayton manufactures one- and two-story homes that range from 500 sq ft (46 m2) to 2,400 sq ft (220 m2) in floor area and from below $40,000 to more than $100,000 in price.
Clayton Homes was sued by FEMA in 2011 for providing formaldehyde-laced trailers as part of Hurricane Katrina relief. They provided prefab shelters (through the Clinton Foundation) to Haiti after the 2010 earthquake, where lab tests showed high levels of formaldehyde, a carcinogen, and where many users reported health problems. The shelters were marketed as "hurricane proof", although FEMA advises to always evacuate mobile homes during hurricanes.
- About Clayton: History, Clayton Homes website (accessed October 22, 2007)
- Clayton Homes, Inc. Company Profile, Yahoo! Finance (accessed October 22, 2007)
- The Ballad of Clayton Homes, By Jennifer Reingold (Illustrations by Christian Clayton), Fast Company, Issue 78, January 2004, Page 76
- "Clayton Homes getting out of land-lease business", by Michael Silence, Knoxville News Sentinel, Tuesday, July 31, 2007.
- Clayton's I-House: Prefab Green Homes Get Affordable. Popular Mechanics. January 15, 2009. accessed Jan 5, 2013.