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 .
Tue Apr 4, 2017
BLOOMFIELD HILLS, Michigan - TriMas, a diversified, global manufacturer of engineered products, has announced that it exited a manufacturing plant located in Wolverhampton, United Kingdom, and has taken actions to cease production at a plant located in Reynosa, Mexico. Both operations are part of TriMas’ Lamons business, which is included within its Energy segment.
“The decision to exit these two manufacturing locations is part of our overall Lamons performance improvement plan, which was initiated as a countermeasure to offset the prolonged reduced demand levels within the crude oil refinery and exploration end markets,” TriMas President and CEO Thomas Amato says. "While these are difficult actions, they are necessary steps to better focus Lamons’ commercial efforts on regions where our sealing products are in higher demand.”
During the past year, Lamons has significantly improved production throughput at its Houston, Texas facility, which has increased available capacity and improved on-time delivery performance. As a result, Lamons will consolidate the production from its Reynosa facility into its Houston facility, allowing Lamons to focus its resources in a manner to better serve its North American customers.
TriMas estimates charges associated with the exit of the Reynosa facility will range from $2 million to $2.5 million, including costs related to asset relocation and disposition and employee separation. Of this amount, about half is expected to be non-cash charges. In addition, Lamons is party to a lease agreement for which it has future rent obligations of about $4.5 million following the anticipated exit date. TriMas may incur a charge to the extent this obligation is greater than estimated future sublease recoveries. Lamons expects to exit the facility by June 30.
In March 2017, TriMas exited its Lamons Wolverhampton facility, which manufactured certain components for subsea applications. However, Lamons will continue to support its sealing product customers in the United Kingdom from its branch in Antwerp, Belgium. The company estimates charges associated with exiting the Wolverhampton facility to range from $3 million to $3.5 million during the first quarter of 2017, the majority of which are expected to be non-cash charges and primarily related to the disposal of fixed assets and inventory.