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 .
Wed Jun 14, 2017
Demco Products had been looking to add a tow brake system line of products to its lineup for some time. With the acquisition of SMI Manufacturing, announced Tuesday, the company has now completed its goal.
Demco Products Sales Manager Doug Northcutt says the timing and the situations finally lined up and the company’s administration made the determination to acquire the brake manufacturer based in Newburgh, Indiana.
“For a long time, we wanted a tow brake system like SMI as part of our product line. This happened to come along and over the course of the last year, came together,” Northcutt says. “It’s pretty exciting to be able to offer a complete towing package, from the bar, to the baseplate and now the braking system. They (SMI) have similar goals and interests. It was nice for Demco to acquire it and it fits nicely into our product line.”
The acquisition will be finalized at the end of the year, when SMI’s accounting, sales, marketing and administration is all moved to Demco’s location in Boyden, Iowa.
“It just takes some time. We have to understand how they’re doing it and complete this with as limited a disruption as we can. This timeline gives us the opportunity to accomplish that.”
SMI President Peter Schuck says that the sale of the company had been in the works for about a year and Demco was the right company to have do this.
“We have always felt that if or when we were ever ready to discuss with a potential buyer, we wanted to see similar values, all the way from their view on customers, their staff as family as well as a sincere faith component,” Schuck says in a press release.
Demco was incorporated in 1964 and has been providing a wide range of trailer, RV aftermarket and agriculture products for the 53 years since. SMI has been making towed vehicle brake systems since 1997.
“I’ve been here for nine years and we’re very excited to add this to our product line and add it to our customer base,” Northcutt says. “We’re excited to be aggressive and grow the company. That’s what it’s all about – the new growth opportunities.”