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 .
Thu Oct 27, 2016
ELKHART, Indiana - Drew Industries Incorporated has announced that its wholly-owned subsidiary, Lippert Components, Inc., has agreed to acquire the business, manufacturing facility and certain assets of the seating and chassis component division of Atwood Mobile Products, a subsidiary of Dometic Group.
Based in Elkhart, Indiana, sales of the acquired business for the 12 months ended Dec. 31, 2015 were approximately $30 million, consisting of sales to OEMs, as well as significant aftermarket sales.
"Atwood has been a household name in the RV and trailer markets for over 30 years," LCI President Scott Mereness says. "Products acquired in the acquisition include seating frames and related components, as well as Atwood's manual, power and scissor jacks, leveling systems and controls, couplers and hitch balls, fifth wheel landing gear and braking components. Atwood's chassis hardware products are a natural fit for LCI. Additionally, we expect the seating frame business will create new synergies in our RV and Marine furniture businesses. This acquisition spans many of our existing core markets and adds significant aftermarket revenue and opens up new adjacent industry opportunities for LCI."
The purchase price is $12.5 million, which will be paid at closing from available cash. After funding this acquisition, Drew remains well-positioned to take advantage of other investment opportunities, according to a press release. The transaction is expected to be completed in November 2016.