Key Developments: Drew Industries Inc (DW.N)

DW.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Drew Industries Inc Declares Special Cash Dividend
Monday, 26 Nov 2012 12:00pm EST 

Drew Industries Inc announced that its Board of Directors has approved a special cash dividend of $2.00 per share of common stock. The dividend is payable on December 20, 2012 to stockholders of record at the close of business on December 10, 2012.  Full Article

Drew Industries Inc.'s Lippert Components Acquires RV Entry Door Business
Wednesday, 22 Feb 2012 04:15pm EST 

Drew Industries Inc. announced that its wholly-owned subsidiary, Lippert Components, acquired the business and certain assets of the United States RV entry door operation of Euramax International, Inc. The purchase price was $1.7 million, of which $1.2 million was paid at closing, with the balance to be paid over the next three years.  Full Article

Drew Industries Inc. Expands Chassis Customization Operation
Tuesday, 6 Dec 2011 08:01am EST 

Drew Industries Inc. announced that its wholly-owned subsidiary, Lippert Components, Inc., has expanded its chassis customization operation through the acquisition of the business and certain assets of Indiana-based M&M Fabricators. M&M, which has annual revenues of about $3 million, modifies chassis primarily for producers of transit buses, specialized commercial vehicles, and Class A and Class C Motorhome RVs. Automotive manufacturers of these types of chassis produce standard-length chassis, and M&M customizes the chassis lengths to meet the particular needs of its customers. The chassis modification process requires an array of fabricated steel parts that fit Lippert Components' existing capabilities, creating immediate efficiencies. The acquisition price was $1 million at closing, which was approximately the fair value of the facility, equipment and working capital acquired. In addition, Lippert Components has agreed to pay up to an additional $100,000 per year for the next five years, depending on annual sales of this operation.  Full Article

Drew Industries Inc.'s Kinro, Inc. Acquires Business And Assets Of Starquest Products, LLC And Affiliate, Qualitec Manufacturing, LLC
Monday, 29 Aug 2011 05:17pm EDT 

Drew Industries Inc. announced that its wholly-owned subsidiary, Kinro, Inc., acquired the business and assets of Starquest Products, LLC and its affiliate, Qualitec Manufacturing, LLC (together "Starquest"). This is the Company's fourth acquisition of 2011, which together add more than $70 million in annualized sales. Starquest has annual sales of approximately $22 million, comprised primarily of windows for truck caps, which are fiberglass enclosures that fit over the bed of pick-up trucks, painted to automotive standards and designed to exact truck bed specifications. Starquest also manufactures windows and doors for horse trailers and buses. The purchase price of $22.6 million was funded with available cash and approximately $12 million of borrowings pursuant to Drew's $50 million line of credit. Drew expects the acquisition to be immediately accretive to earnings. The key managers of Starquest have entered into employment agreements with Kinro, and will continue to manage the business.  Full Article

Drew Industries Inc.'s Lippert Components Acquires Assets Of RV Chassis Business
Monday, 22 Aug 2011 04:01pm EDT 

Drew Industries Inc. announced that its wholly owned subsidiary, Lippert Components, acquired from EA Technologies, LLC the business and certain assets of the towable RV chassis and slide-out mechanism operation previously owned by Dexter Chassis Group. The purchase price was $13.5 million, which was paid from available cash.  Full Article

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