Drew Industries Incorporated, through its wholly-owned subsidiaries, supplies a line of components for the manufacturers of recreational vehicles (RVs) and manufactured homes. The company’s subsidiaries include Lippert Components, Inc. and Kinro, Inc. Segments The company operates through two segments, RV Products and Manufactured Housing Products. RV Products This segment manufactures and markets various products used primarily in the production of RVs, including steel chassis for towable RVs; aluminum windows and screens; axles and suspension solutions for towable RVs; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; manual, electric, and hydraulic stabilizer and leveling systems; chassis components; furniture and mattresses; entry, baggage, patio, and ramp doors; entry steps; awnings; and other accessories. The company also supplies certain of these products to the RV aftermarket, and to adjacent industries, including manufacturers of buses, trailers used to haul boats, livestock, equipment and other cargo, and truck caps. This segment’s products are sold primarily to major manufacturers of RVs, such as Thor Industries, Inc.; Forest River, Inc. (a subsidiary of Berkshire Hathaway Inc.); Jayco (a private company); and other original equipment manufacturers, as well as to distributors and retail dealers of aftermarket products. Manufactured Housing Products This segment manufactures and markets various products used in the production of manufactured homes, and modular housing and mobile office units, including vinyl and aluminum windows and screens; thermoformed bath and kitchen products; steel and fiberglass entry doors; aluminum and vinyl patio doors; steel chassis; steel chassis parts; and axles. The company also supplies certain of these products to the manufactured housing aftermarket and to adjacent industries. This segment’s products are sold primarily to major producers of manufactured homes, such as Clayton Homes, Inc. (a subsidiary of Berkshire Hathaway Inc.); Cavco Industries, Inc.; and other original equipment manufacturers, as well as to distributors of aftermarket products. Acquisitions In February 2014, the company acquired Innovative Design Solutions, Inc. (IDS), a designer, developer, and manufacturer of electronic systems, including various RV applications. IDS also manufactures electronic systems for automotive, medical, and industrial applications. In December 2013, the company acquired the business and certain assets of Fortress Technologies, LLC, a manufacturer of specialized RV chassis located in Middlebury, Indiana. In June 2013, the company acquired the business and certain assets of Midstates Tool & Die and Engineering, Inc., a manufacturer of tools and dies, as well as automation equipment. Seasonality The company’s sales and profits have been the highest in the second quarter (year ending December 2013) and lowest in the fourth quarter. Research and Development The company’s research and development expenses were approximately $5 million in 2013. Regulatory Matters Windows and entry doors produced by the company for manufactured homes must comply with performance and construction regulations promulgated by the United States Department of Housing and Urban Development (HUD) and by the American Architectural Manufacturers Association relating to air and water infiltration, structural integrity, thermal performance, emergency exit conformance, and hurricane resistance. Certain of the company’s products must also comply with the International Code Council standards, such as the International Residential Code, the International Building Code, and the International Energy Conservation Code, as well as state and local building codes. Thermoformed bath products manufactured by the company for manufactured homes must comply with performance and construction regulations promulgated by HUD. Windows and doors produced by the company for the RV industry must comply with regulations promulgated by the National Highway Traffic Safety Administration (NHTSA) of the United States Department of Transportation governing safety glass performance, egress ability, door hinge and lock systems, egress window retention hardware, and baggage door ventilation. Windows produced by the company for buses must comply with Federal Motor Vehicle Safety Standards promulgated by NHTSA. Trailers produced by the company for hauling boats, personal watercraft, snowmobiles, and equipment must comply with Federal Motor Vehicle Safety Standards promulgated by NHTSA relating to lighting, braking, wheels, tires and other vehicle systems. Upholstered products and mattresses produced by the company for motorized RVs and buses must comply with Federal Motor Vehicle Safety Standards promulgated by NHTSA regarding flammability. In addition, upholstered products and mattresses produced by the company for motorized and towable RVs must comply with regulations promulgated by the Consumer Products Safety Commission regarding flammability, as well as standards for toxic chemical levels and labeling requirements promulgated by the California Office of Environmental Health Hazard Assessment. Plywood, particleboard, and fiberboard used in RV products are required to comply with standards for formaldehyde emission levels promulgated by the California Air Resources Board and adopted by the Recreation Vehicle Industry Association. History Drew Industries Incorporated was founded in 1962.
drew industries inc (DW:New York)
3501 County Road 6 East
Elkhart, IN 46514
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