Drew targets exports, mulls acquisitions
Nov 04, 2013 | 04:19 PM
| Michael Cowden
CHICAGO Drew Industries Inc. spent $3 million in the first nine months of 2013 to boost its internal steel stamping capacity in the third quarter, chief financial officer and treasurer Joseph S. Giordano said, noting that the company is also considering acquisitions.
Full-year capital expenditures are estimated at $33 million to $35 million, with another $32 million to $36 million anticipated in 2014, he said during an earnings call last week.
Drew had a cash balance of $52 million, no debt and "substantial" unused lines of credit as of Sept. 30, Giordano said.....
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