The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Fri Aug 26, 2016
TROY, Michigan - Horizon Global Corporation has announced it has entered into a definitive agreement to acquire Westfalia-Automotive and Terwa, collectively referred to as the Westfalia Group, a leading global towing company. As part of the transaction, Horizon Global will acquire the market-leading brands, Westfalia, Terwa and Siarr from an investor consortium led by DPE Deutsche Private Equity, which will become a shareholder of Horizon Global as part of the transaction.
The combination will create a stronger company which will be well-positioned for accelerated growth in both revenue and profit, as it gains a larger pan-European presence and low-cost manufacturing in Romania, according to a press release.
Westfalia is the inventor of the European ball towbar and has been manufacturing and marketing high-quality branded towing products since 1932. Offering more than 1,700 different types of towbars, Westfalia is headquartered in Rheda-Wiedenbrück, Germany. Westfalia holds approximately 100 towbar patents and more than 30 transport system patents, operating facilities in 11 countries.