NEW YORK Drew Industries Inc. expects results to improve in 2013 thanks to a pickup in the recreational vehicle (RV) market.
"RV industry fundamentals look to be solid. ... Recent production levels have exceeded sales, but thats to be expected in a recovery. Dealer inventory is now in line with demand," outgoing president and chief executive officer Fred Zinn said during the companys fourth-quarter earnings call.
"Right now, were building a lot of products," Jason D. Lippert, chairman and chief executive officer of Drew subsidiaries Lippert Components Inc. and Kinro Inc., added.
Lippert will replace Zinn effective May 10 (amm.com, Feb. 13).
Drew Industries, which makes parts for a host of sectors, including RVs, manufactured housing and trailers, will continue to expand its product range this year. Commenting on successful moves into levelers, awnings and slideouts for RVs in 2012, Lippert said the company has "a lot more of the same coming in 2013."
White Plains, N.Y.-based Drew Industries will invest between $10 million and $15 million this year in new equipment, including a glass tempering line and new metal fabrication equipment, chief financial officer and treasurer Joseph S. Giordano III said during the call.