Archive

Posts Tagged ‘array’

Drew Declares Special Dividend

November 26th, 2012 Comments off

MarketWatch informs MHProNews White Plains, New York-based Drew Industries announced it has declared a special cash dividend of $2.00 per share common stock payable on Dec. 20, 2012 to shareholders of record as of Dec. 10, 2012. Drew’s president and CEO Fred Zinn says, “This special dividend reflects the board’s confidence in the financial strength of the company as well as the company’s positive long-term outlook.” Through its wholly-owned subsidiaries, Kinro, Inc. and Lippert Components, Inc., Drew provides the manufactured housing and recreational vehicle markets with a wide array of components. Drew closed up today +2.14% to end at 32.94.

(Image credit: Drew Industries, Inc.)

Drew Celebrates 50 Years

October 3rd, 2012 Comments off

WALB-TV reports White Plains, NY-based Drew Industries, Inc. (NYSE:DW) will ring the closing bell at the New York Stock Exchange on Fri., Oct. 5 in honor of Drew’s 50th anniversary as a publicly traded company. Drew’s initial public offering in 1962 denotes its involvement in real estate financing, management and ownership. Currently, through its subsidiaries, Lippert Components, Inc. and Kinro, Inc., Drew supplies an array of components to the RV and manufactured home industries from 31 factories across the nation and employs 5,000. MHProNews has learned Drew has annual revenues over $800 million.

(Image credit: Drew Industries, Inc.)

CFPB Amends LO Compensation Proposal

August 27th, 2012 Comments off

As follow-up to a story we published Aug. 17, 2012 about loan originator compensation, the Consumer Financial Protection Bureau (CFPB) has issued a new proposal which gives management more control of pricing, and prohibits loan originators from leading borrowers into higher cost or higher risk loans as a means to increase their compensation. The CFPB wants lenders to offer a “zero-zero option” which allows potential borrowers to see the full interest rate and total closing costs of a mortgage so they can more easily compare it to other options. As nationalmortgagenews noted, CFPB Director Richard Cordray said, “Consumers have a hard time comparing loans when they are dealing with a bewildering array of points and fees. We want to provide consumers with clearer options and enable them to choose the loan that they believe is right for them.” In addition, under the revised proposal, senior managers would not be considered loan originators if they originated five or fewer loans in the last 12 months. The public comment period is open until Oct. 16. MHProNews has learned the CFPB intends to finalize the proposal after the first of the year.

(Image credit: moneycontrol)

MH Component Maker Expands

August 9th, 2012 Comments off

IndyStar states Drew Industries’ subsidiaries, Lippert Components, Inc. and Kinro Manufacturing, Inc., will add 260 new jobs by 2015 as the result of a $3.65 million expansion. Lippert and Kinro already employ 4,000 full-time employees at their respective plants in northern Indiana, and will begin hiring the new workers this fall. Lippert received $1.2 million in conditional tax credits from the Indiana Economic Development Corporation and as much as $115,000 in training grants. As MHProNews knows, Drew Industries produces and supplies the manufactured housing and recreational vehicle industries with a wide array of components.

(Photo credit: Fairmont Homes)

For Profit and non-Profit Partner in Disaster Areas

July 31st, 2012 Comments off

CSRWire reports non-profit National Equity Fund (NEF) and financial giant Morgan Stanley are committing $25 million more in capital to support development of affordable housing and a jump start to local economies in devastated areas following catastrophic tornadoes and flooding. The current Rebuilding Local Economies Fund has reached $125 million. Covering Federal Emergency Management Agency (FEMA)-declared disaster areas, the funding focuses on Low Income Housing Tax Credit projects that assists residents who earn 60 percent of less of the area’s median income. MHProNews has learned the $125 million will support the development of 1,000 affordable housing units and thousands of jobs in the targeted areas. NEF is the nation’s largest syndicator of low income housing tax credits. Morgan Stanley provides an array of financial services in 43 countries.

(Photo credit: FEMA)

Drew’s Kinro Acquires Agile

July 16th, 2012 Comments off

RVDailyReport says Kinro, Inc., a subsidiary of Drew Industries, Inc. and supplier of components for the recreational vehicle (RV) industry, announces that it has acquired the thermoforming design and production operation of Agile Vehicle Modifications, which produces plastic components for the original equipment manufacturer (OEM) and the aftermarket industry. Acquisition price was $300,000 with an additional $150,000 possible depending upon sales for one year. Agile has revenues of under $1 million. Kinro is based in Elkhart, Indiana and will lease Agile’s existing facility, also in Elkhart. MHProNews.com knows Drew supplies a wide array of components for the RV and MH industries.

(Image credit: Drew Industries, Inc.)

Drew to Release Financials

April 19th, 2012 Comments off

MHProNews.com has learned from 4-Traders Drew Industries. Inc. will release its first quarter 2012 financial results before the market opens Thursday, May 3, 2012. The company will host a conference call that same day at 11 AM to discuss the results. Through its wholly-owned subsidiaries Kinro and Lippert Components, Drew, headquartered in White Plains, NY, supplies a broad array of components to the manufactured housing and recreational vehicle industries through its 30 factories across the United States.

(Graphic credit: Drew Industries, Inc.)