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 Feb 28, 2018
Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment saw a 37.6 increase in net sales, based on constant currency from $649 million to $893 million, in its full-year report for 2017.
Horizon Americas’ net sales decreased 5.1 percent in the fourth quarter, driven by delivery delays transitioning to a new distribution facility and inventory management efforts by retail customers, according to a news release from the business based in Troy, Michigan. Operating profit increased $2.2 million to $5.2 million, or 5.9 percent of net sales, primarily attributable to approximately $3.8 million of lower expense related to the impairment of certain intangible assets in Horizon’s business in Brazil during the fourth quarter of 2016. Adjusted operating profit increased $0.6 million to $6.6 million, or 7.5 percent of net sales.
The company also announced a targeted action plan, which includes the restructuring of its Americas business to reduce operating costs and realign the organization for greater efficiency. The action plan also addresses business improvement activities in Europe-Africa, which include the continued integration of Westfalia.
"Our sales and operating profit grew for the year, but the business was unable to overcome the challenges we faced in the fourth quarter," says Mark Zeffiro, president and CEO of Horizon Global. "We are disappointed that we did not achieve our full-year guidance. Our global team is focused on addressing these challenges and implementing a targeted action plan, which includes specific initiatives to address our organizational needs to become more efficient, better service customers, grow profitably and build long-term shareholder value.”
To read the entire release, CLICK HERE.