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Posts Tagged ‘Lippert Components Inc.’

Drew Acquires Manufacturer of RV Interiors

February 29th, 2016 Comments off

drew_ind_2_logoDrew Industries, Inc. of Elkhart, Indiana has acquired Flair Interiors, Inc., a manufacturer of recreational vehicle (RV) interiors with operations in Goshen and Fort Wayne, IN, through its wholly-owned subsidiary, Lippert Components, Inc. (LCI®) for $8.1 million, according to streetinsider. Sales of Flair for 2015 wee approximately $25 million.

Drew’s President, Scott Mereness, said, “We have well-established furniture operations in both Goshen and Fort Wayne, allowing integration to become significantly easier. As the market leader in RV furniture, this transaction supports one of our goals of continued growth in our core markets.”

As MHProNews knows, Drew is a component supplier to the manufactured home (MH) and recreational vehicle industries from its 44 manufacturing and distribution facilities throughout the U. S. and Canada. ##

(Image credit: Drew Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily business News-MHProNews.

Drew CEO Sells 2,800 shares of Company Stock

November 25th, 2015 Comments off

jason_lippert__goshennewsIn an insider trade, as reported by voicechronicle, Jason Lippert, CEO of Drew Industries, Inc. (NYSE:DW) sold 2,800 shares of company stock at $59.80 per share for a net of $167,440. He still owns 130,711 shares, 0.55 percent of the company’s market cap of $1.41 billion. Company stock has risen 0.98 percent since April 22, 2015 and has outperformed the S&P 500 by 1.99 percent.

As MHProNews reported Nov. 16, 2015, Drew Chairman Emeritus Leigh J. Abrams sold 6,000 shares of company stock at $59.27 per share for a net value of $355,620. In today’s trading, shares of Drew closed up +$2.13 at $60.52.

From its wholly-owned subsidiary Lippert Components, Inc., in Elkhart, Indiana, and through its 37 facilities across the nation, Drew produces and distributes components to the manufactured housing and recreational vehicle industries. ##

(Photo credit:goshenenews–Jason Lippert, CEO Drew Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Lippert to Add 125 Workers in New Haven, Indiana

August 20th, 2015 Comments off

lippert components  rvbusiness creditUpdating a story MHProNews posted Aug. 11, 2015, regarding Lippert Components, Inc. acquisition of Signature Seating, journalgazette reports Lippert will be adding 125 new jobs at the New Haven, IN facility that was home to Signature. Also known as Roehm Marine LLC, the company made upholstered furnishings for pontoon boats and other freshwater marine craft.

A wholly-owned subsidiary of Drew Industries, Inc. Lippert intends to invest $678,160 in manufacturing, logistics and information technology equipment. The company is seeking a reduction in taxes of $19,000 over five years.

Having lost 250 manufacturing jobs at the Vera Bradley plant recently, New Haven’s Planning Director, Brian Yoh, said most of the proposed jobs are in sewing, upholstery, woodworking and assembly and would play into a skill set already possessed by area workers. The jobs would pay an average of $13 an hour, plus benefits.

Drew’s president, Scott Mereness, says Signature’s sales for the year ending in June were $16 million, and estimates sales of $125 million annually in the pontoon boat market. He added, Beyond the marine market, we expect to utilize the Signature team to develop furniture solutions for the RV motor home market as well.

Drew Industries, Inc., based in Elkhart, Indiana, is a component supplier to the manufactured home and recreational vehicle industries. One of Lippert’s top customers is Fairmont Homes of Nappanee, Indiana. ##

(Image credit: Lippert Components, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Another Drew Principal Unloads Stock

May 29th, 2015 Comments off

drew_ind_logoA member of the board of directors of Drew Industries, Inc. (NYSE:DW), John B  Lowe sold 10,000 shares of Drew stock on May 27, 2015, according to a filing with the Securities and Exchange commission (SEC) dated May 29, 2015.

The shares were sold at $60.57 per share for a value of $605,700.00, as moneyflowindex reports. MHProNews reported May 25, 2015, President Scott T. Mereness sold 3,803 shares of stock for a total value of $241,490.50. Two analysts rated the stock as a strong buy, while one analyst rated it hold.

Drew is a component supplier to the manufactured housing and recreational vehicle industries through its wholly-owned subsidiaries, Lippert Components, Inc and Kinro, Inc. Drew’s stock closed today at $61.39, -1.91 percent. ##

(Image credit: Drew Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. silver to Daily Business News-MHProNews.

Drew Draws Aces, Posting Record First Quarter 2015

May 5th, 2015 Comments off

drew_industNet sales for Drew Industries, Inc. (NYSE:DW) in the first quarter of 2015 rose to a quarterly record $361 million, 27 percent higher than for the same period 2014, resulting in net income of $20.1 million, $0.82 per diluted share, versus $16.2 million, or $0.67 per diluted share for the quarter ending March 31, 2014.

The growth in net sales is primarily the result of a 29 percent increase in net sales of the company’s recreational vehicle (RV) sector. While the RV segment accounted for much of the company’s growth, the manufactured housing (MH) segment’s net sales (OEMs) increased nearly eight percent, from $16.5 million to $17.8 million, Q1 2014 to Q1 2015. Operating profit for the MH sector grew from $2.3 million to $2.7 million, year-over-year.

Sales for April 2015 have already set a record for the month, hitting $129 million, 14 percent higher than April of last year, as marketwatch informs MHProNews.

With the strong underlying demand for our products in the first quarter of 2015, we achieved record net sales, the highest level for any quarter in Drew’s history,” said Jason Lippert, Drew’s Chief Executive Officer. “The industries we serve continue to grow, which, when coupled with our recent acquisitions, new products and market share gains, have led to the significant increase in our net sales for the first quarter of 2015.

Drew has acquired two additional subsidiaries in 2015: EA Technologies, a manufacturer of custom aluminum and steel parts, and provider of powder-coating services; and Spectal Industries, a Canadian producer of windows and doors for buses, emergency vehicles, RVs and trucks.

From 41 facilities across the nation and Canada, through its wholly-owned subsidiary, Lippert Components, Inc.,  Drew supplies components to the manufactured housing and recreational vehicle industries.##

(Image credit: Drew Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Drew Industries to Release Q1 Financials

April 22nd, 2015 Comments off

drew_industDrew Industries Inc., parent company of Lippert Components Inc., will release its first quarter financial results before the market opens Tue., May 5, 2015, followed by a conference call later that same day at 11 AM EDT to discuss the results and other business affairs, according to rvbusiness.

The question-and-answer portion of the call will be restricted to institutional investors and analysts, although others may listen to a live webcast of the call at www.drewindustries.com. CEO Jason Lippert, President Scott Mereness and CFO and treasurer Joseph Giordano will host the call. The company is headquartered in Elkhart, Indiana.

As MHProNews reported April 10, 2015, Mr. Giordano will be stepping down from his position with Drew at the end of Aug., 2015 to pursue other opportunities. He had previously unloaded 19,500 shares of Drew stock for $1.26 million.

From 38 facilities nationwide, Drew supplies components to the manufactured and modular housing and recreational vehicle industries. ##

(Image credit: Drew Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-com  Article submitted by Matthew J. Silver to Daily Business News-MHProNews.

Executive Change at Manufactured Housing Component Supplier

April 10th, 2015 Comments off

drew_ind_logoManufactured housing component supplier Drew Industries, Inc. (NYSE:DW), of Elkhart, Indiana, has informed MHProNews that Joseph S. Giordano III, will be leaving his posts as treasurer and Chief Financial Officer (CFO) as of Aug. 31, 2015 to pursue other business opportunities. He joined Drew as Corporate Controller in 2003, and became treasurer and CFO in 2008. As MHProNews reported March 31, 2015, Mr. Giordano sold 19,500 shares of Drew stock with a value of $1,262,250.

James F. Gero, Chairman of the Board of Drew Industries, stated, “Joe has played an instrumental role in the Company’s growth and success for more than a decade, including during the 2013 executive succession and the relocation of the Company to Elkhart, Indiana. We thank him for his service and wish him the best in his future endeavors.

On behalf of all of us here at Drew Industries, Lippert Components, Inc., and our Board of Directors, I want to thank Joe for his service and wish him only the best going forward,” said Jason Lippert, Chief Executive Officer of Drew Industries. “Joe has helped build a strong financial team at the Company, which positions us well for the continued execution of our business strategies. We are highly appreciative of Joe and are confident in his abilities to keep our business on track as we evaluate external candidates for the role of CFO.

As cnnmoney reports, through its wholly-owned subsidiary, Lippert Components, Inc., from 38 facilities nationwide, Drew provides a wide range of products to the manufactured and modular housing and recreational vehicle industries, including axle and suspension systems, sliding doors, leveling mechanisms, furnishings, windows, doors, hydraulic systems and other items. ##

(Image credit: Drew Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-com  Article submitted by Matthew J. Silver to Daily Business News-MHProNews.

Insider Sells $1.26 Million of Drew Stock

March 31st, 2015 Comments off

drew_industDrew Industries, Inc. Chief of Financial Operations (CFO) Joseph S. Giordano III sold 19,500 shares of Drew stock on the market March 24, according to a filing with the Securities and Exchange Commission (SEC). According to what dakotafinancialnews tells MHProNews, the stock was sold at $64.75 per share, totaling $1,262,625.00. He now owns 209 shares of company stock valued at approximately $13,532.75.

Giordano served as Treasurer and controller of Dew from May 2003 to May 2008. Since then he has been the CFO and Treasurer of the company.

Drew Industries, Inc. manufactures and distributes components for the manufactured housing and recreational vehicle industries through its wholly-owned subsidiary, Lippert Components, Inc., from 19 facilities located around the nation. Drew’s stock closed at $61.95 in today’s trading, up +0.58 percent. ##

(Image credit: Drew Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-com   Article submitted by Matthew J. Silver to Daily Business News-MHProNews.

Lippert Appoints Hess to New Role in Chassis Division

September 11th, 2013 Comments off

With a background in law and engineering, Brian Hess has been chosen as the Chassis Division Product Manager at Lippert Components, Inc., (LCI) a subsidiary of Drew Industries, Inc. (NYSE:DW). In this new role within the chassis division, Hess will work closely with customers and the research and development team to take on new challenges. According to digitaljournal.com, LCI Vice President of Sales Andy Murray says, “Brian’s ability to build strong relationships with customers and his creative flair make him ideal for this new position. He understands the needs of the industry and will work with our teams to provide fresh, new products to fill those needs.” MHProNews understands that Lippert and its sister company, Kinro, Inc. make a variety of components for the manufactured housing and recreational vehicle industries.

(Image credit: Lippert Components, Inc.)

Andy Pocock Promoted to Vice President at Lippert and Kinro

September 4th, 2013 Comments off

Lippert Components, Inc. and Kinro, Inc. announce the promotion of Andy Pocock to Vice President of Sales, Specialty and Manufactured Housing Markets for the Elkhart, Indiana-based subsidiaries of Drew Industries, Inc. (NYSE:DW). His eight-year plus stint with the sister companies included roles in suspension and running gear management, and for the last 2 1/2 years he has served as Director of Business Development of the Specialty Markets Division. In his new role he will guide the manufactured and modular housing sales teams in developing new clients, as well as grow other specialty markets. According to PRWeb.com, Pocock’s responsibilities will also include increasing market share in the truck cap, school bus, livestock trailer, marine and automotive accessories divisions. Said LCI and Kinro President Scott Mereness: “Andy has been a key member of our team for many years. His relationship-building skills and his broad company experience make him an excellent leader for this team.” MHProNews knows LCI and Kinro provide components for the manufactured and modular housing industries.

(Photo credit: PRWeb.com)