Kinro Acquires Thermoforming Operation
GOSHEN, Ind., July 12, 2012 /PRNewswire/ -- Kinro, Inc., a leading supplier of components for the RV industry, announced today that it acquired the thermoforming design and production operation of Agile Vehicle Modifications.
Agile, which has annual revenues of less than $1 million, produces thermoformed plastic components and tooling largely for the OEM and aftermarket vehicle market.
"Kinro's existing thermoforming capability will be substantially expanded company-wide as a result of this acquisition," said Jason Lippert, Chairman and CEO of Kinro. "Now we can provide thermoformed products in Northern Indiana to meet our customers' needs."
Scott Mereness, President of Kinro added, "Agile's focus on thermoformed products for the OEM and aftermarket vehicle market fits perfectly with our continuing expansion into the specialty markets."
The acquisition price was $0.3 million paid at closing, plus up to an additional $150,000, depending on sales of this acquired operation for one year. The operation will initially be conducted at Agile's existing facility in Elkhart, Indiana which was leased to Kinro. About Lippert Components and KinroKinro and Lippert Components, Inc., its sister company, subsidiaries of Drew Industries Incorporated (NYSE: DW), supply a broad array of components for RVs, manufactured homes, including chassis, chassis parts, RV slide-out mechanisms, axles, upholstered furniture, mattresses, windows, doors, and thermoformed products. Additional information about Lippert Components and Kinro can be found at www.LCI1.com and www.Kinro.com. Contact: Scott Mereness, PresidentKinro, Inc.(574) 535-1125 www.LCI1.com SOURCE Drew Industries Incorporated
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
