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Posts Tagged ‘subsidiary’

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.)

Green Courte Adds Two Communities to its Portfolio

July 31st, 2013 Comments off

Lake Forest, Ill.-based private equity real estate investment firm Green Courte Partners, LLC announces the acquisition of two all-age land lease communities in southern Maine. Incorporating 483 home sites, MHProNews has learned Town & Country Village in Lisbon and Maplewood Manor/Merry Meeting in New Brunswick will be managed by American Land Lease, Inc., a wholly-owned subsidiary of Green Courte. American Land Lease manages the manufactured housing community portfolio of Green Courte, which now includes 53 communities in eleven states comprised of 19,000 developed home sites.

(Photo credit: Green Courte Partners, LLC)

Lippert Brings Wireless to Recreational Vehicle Leveling

July 25th, 2013 Comments off

Manufactured housing component supplier Lippert Components, Inc. of Elkhart, Ind. announces its patented Level Up automatic leveling system for recreational vehicles (RV) is now available using a wireless remote. Level Up will level an RV in under a minute, and it includes a feature that remembers the exact height at which the RV was unhitched. The remote allows the user to walk around the unit during leveling with the capability to stop it at any time. As watchlistnews reports, the remote can be added to an existing Level Up system. MHProNews knows Lippert, along with sister company Kinro, Inc., is a subsidiary of Drew Industries, Inc., a supplier of various components to the manufactured and modular housing industries.

(Photo credit: Wikipedia–manufactured housing chassis, one of Lippert’s products)

Manufactured Housing Component Producer Grows

July 15th, 2013 Comments off

Lippert Components, Inc., (LCI), a subsidiary of Drew Industries, Inc., has acquired certain assets and the engineering team of Midstates Tool and Die and Engineering, Inc. in Elkhart, Ind. Now renamed Lippert Automation, Tool and Die, the company builds automated equipment, production tooling, and progressive and one-hit stamping dies, and currently employs 12 people, all of whom will remain. Joe Giordano III, chief financial officer of Drew, says, “We haven’t done a big acquisition to date. We’ve done them with small steps, and this is just another one of those in that long history of small steps.” Lippert has over 4,800 employees in northern Ind., and as southbendtribune informs MHProNews, anticipates that will grow to 5,300 by the end of 2016. Jason Lippert, CEO of Drew, a component maker to the manufactured housing industry, says, “The Midstates team has developed a strong reputation for quality workmanship, and we expect to build on that strength.”

(Image credit: Lippert Components, Inc.)

Clayton Acquires Window Maker

June 7th, 2013 Comments off

According to knoxnews, Clayton Supply, a division of Clayton Homes, has acquired one of its suppliers, a vinyl window manufacturer in Crossville, Tenn. Purchased from Elixir Industries and renamed Clayton Windows, the facility has the production capability for 450 windows a day, but Clayton intends to ramp up output to 1,000 a day by adding another assembly line and 20 new jobs by year’s end. Founded in 2010, Clayton Supply provides building materials to 35 manufacturing facilities. It also refurbishes manufactured homes in Alabama for Vanderbilt Mortgage and Finance and 21st Mortgage, two companies that back MH loans. Terms of the transaction were not disclosed. As MHProNews knows, Clayton Homes of Maryville, Tenn. is the largest producer of manufactured homes in North America, and a subsidiary of Berkshire Hathaway.

(Photo credit: WBIR-TV–Clayton I-Home)

Modular Builder and First Nation Collaborate

June 4th, 2013 Comments off

Modular builder Britco of Vancouver, British Columbia, Canada has entered into a partnership with the Tsleil-Waututh Nation to create some mutually beneficial business opportunities. As newswire.ca tells MHProNews, the First Nation is comprised of 500 members who live along the shores of the Burrard Inlet in N. Vancouver, BC. With headquarters in Langley, BC, Britco is a subsidiary of WesternOne Inc., and one of the largest modular construction companies in the industry with over 1,000 employees in Canada, Australia and the U. S. The company and the First Nation will rent and sell temporary and permanent buildings for housing, offices, daycares, and senior accommodations. Mike Ridley, President of Britco, says, “We are looking forward to working closely with the Tsleil-Waututh Nation to provide sustainable modular building solutions on major projects in and around the region.”

(Photo credit: winnipegfreepress–Lake St. Martin, Manitoba, Canada)

Oak Creek Opens New Home Center

May 6th, 2013 Comments off

PRWeb reports Oak Creek Homes announces the opening of its new home center, its 17th in Texas, in Midland, TX to sell manufactured and modular homes and commercial buildings. General Manager Craig Johnston says the shortage of affordable housing and the rise in apartment rentals spurred the company to open in Midland. The company’s Chief Marketing Officer, Ronnie Richards, says, “Oak Creek has built over 50,000 homes and has continuously provided homes in the Midland – Odessa market since 1983.” Midland is close to the oilfield development in west Texas that has workforce housing needs. MHProNews posted a story March 28 about Oak Creek’s development of a mobile app that allows a shopper to search homes while driving around. Oak Creek is a subsidiary of American Homestar Corp., a vertically integrated factory-built housing company, primarily employee-owned, with operations in construction, financing, insurance, and retailing. The company is in its 42nd year.

(Image credit: Oak Creek Homes)

Loans more Available for Factory-built Home Buyers

April 17th, 2013 Comments off

MarketWatch informs MHProNews manufactured and modular home builder Deer Valley Corp.’s wholly-owned subsidiary, Deer Valley Financial, Inc., (DVF) has entered an agreement to provide CIS Home Loans with a $2.5 million line of credit to increase its portfolio of retail mortgages for buyers of manufactured and modular homes. This will allow CIS to offer bridge “construction-to-permanent loans” and the ultimate resale of the loan to government or private entities. Since it began in 2009, DVF’s financing has been available only to dealers of Deer Valley homes to acquire inventory. The partnership with CIS will now provide financing for retail buyers of manufactured and modular homes, primarily in south central U. S.

(Image credit: texaslendingtoday)

The Oracle of Omaha Opines

March 5th, 2013 Comments off

CNNMoney reports Berkshire Hathaway Chairman Warren Buffett, noting the sell-off in stocks recently when Federal Reserve meeting minutes indicated some members wanted to slow the buying of assets, says once the Federal Reserve actually starts selling the trillions in mortgages and Treasuries, the market reaction could be extreme. “All over the world everybody that manages money is waiting to catch the signal that the Fed is going to reverse course,” he says. “I think they’re on a hair trigger. There are an awful lot of people who want to get out of a lot of assets if the Fed is going to tighten. Who knows how it will play out.” While he criticizes gridlock in Congress over the budget, he does not think the sequestration cuts will throw the economy back into a recession. As MHProNews knows, Clayton Homes, the largest producer of manufactured housing in North America, is a subsidiary of Berkshire Hathaway.

(Photo credit: Clayton Homes)

Elkhart Ind. is Bustling

March 1st, 2013 Comments off

Lippert Components, Inc., component supplier to the manufactured housing and recreational vehicle industries, is part of a strong industrial growth pattern in Elkhart, Ind, as etruth informs MHProNews. Lippert began as a steel fabricating plant in rural Michigan in the 1950’s, and has been fabricating chassis for manufactured housing since the beginning. It now has 34 plants and 5,300 employees. With the uptick in the RV industry, Elkhart is drawing related industries. Genesis Products, Inc. manufactures wood products primarily for the RV industry, and like Lippert, got its start as a small company ten years ago and now has five facilities. Named the eighth fastest growing privately held manufacturing company in the Inc. 500 ranking in 2007, Genesis intends to expand operations and hire an additional 100 employees by 2015. Lippert is a subsidiary of Drew Industries, Inc. (which recently moved its corporate offices to Elkhart from White Pains, NY) and with it’s sister company, Kinro, Inc. provides doors and windows to the MH and RV industries, and together they both manufacture an extensive line of bathroom fixtures.

(Photo credit: Wikipedia–MH chassis)