LCI Industries (NYSE: LCII), through its wholly-owned
subsidiary, Lippert Components, Inc. (“Lippert™”) which supplies a
broad array of highly engineered components for the leading
original equipment manufacturers ("OEMs") in the recreation and
transportation product markets, and the related aftermarkets of
those industries, today announced the acquisition of substantially
all of the business assets of Trazcor, Inc. (“Trazcor”), a
specialized metal fabrication company located in Goshen, IN. With
over 30 years of experience, Trazcor utilizes innovative technology
to supply custom aluminum sidewalls and panels to the recreation
and transportation OEM markets.
In addition to providing aluminum sidewalls to the North
American RV industry, Trazcor also supplies custom fabricated
products to the Utility Trailer and Marine industries. Their 80,000
square foot facility in Goshen, IN has the capabilities to process
aluminum coil in multiple forms and sizes to furnish brake, mesa
and multi-blank panels in over 50 unique colors. Lippert is no
stranger to the metal fabrication business, vertically integrating
their own metal fabrication needs in 1998 with a facility in Goshen
which now incorporates over 153,000 square feet of brake presses,
coil fed, roll-form and precision CNC machines.
“The Trazcor product line fits nicely into Lippert’s core
manufacturing competencies,” said Ryan Smith, President of
Lippert’s OEM Segment. He continued, “Every year Lippert purchases
approximately 500,000 tons of steel and 4,000 tons of aluminum, so
there are immediate synergies that our two companies can realize.
We are very close to the majority of Trazcor’s existing customers
and will continue to deliver the level of service that they have
come to expect from Lippert. We are excited to welcome the Trazcor
team to the Lippert family and are looking forward to a bright
future together.”
Andy Murray, Chief Sales Officer for Lippert, commented,
“Trazcor has an incredible business model and remarkable products.
We see this as a tremendous opportunity to grow a new product line
for Lippert using a strong financial background and great industry
relationships. When we look at strategic acquisitions, we look for
organizations that fit our core manufacturing competencies,
exceptional culture and a long runway to grow the business, and
Trazcor fits this model perfectly.”
Michael Koronkiewicz will be leading the Trazcor sales effort
for the Lippert team. Koronkiewicz, who joined Lippert in November
after a five-year career as the VP of Sales with Welch Packaging,
is thrilled about the new opportunity. “There is a lot of positive
energy about the opportunities that this acquisition provides,” he
stated. “We are looking forward to growing our existing
relationships within the industry and are excited to add this great
product to our current product offering.” Michael can be reached at
(574) 536-7803 for additional questions on this new product line
for Lippert.
About LCI Industries
LCI Industries, through its wholly-owned subsidiary, Lippert,
supplies, domestically and internationally, a broad array of highly
engineered components for the leading OEMs in the recreation and
transportation product markets, consisting primarily of
recreational vehicles and adjacent industries, including buses;
trailers used to haul boats, livestock, equipment, and other cargo;
trucks; boats; trains; manufactured homes; and modular housing. The
Company also supplies engineered components to the related
aftermarkets of these industries, primarily by selling to retail
dealers, wholesale distributors, and service centers. Lippert's
products include steel chassis and related components; axles and
suspension solutions; slide-out mechanisms and solutions;
thermoformed bath, kitchen, and other products; vinyl, aluminum,
and frameless windows; manual, electric, and hydraulic stabilizer
and leveling systems; entry, luggage, patio, and ramp doors;
furniture and mattresses; electric and manual entry steps; awnings
and awning accessories; towing products; truck accessories;
electronic components; and other accessories. Additional
information about Lippert and its products can be found at
www.lci1.com.
Forward-Looking Statements
This press release contains certain "forward-looking statements"
with respect to our financial condition, results of operations,
business strategies, operating efficiencies or synergies,
competitive position, growth opportunities, acquisitions, plans and
objectives of management, markets for the Company's common stock,
the impact of legal proceedings, and other matters. Statements in
this press release that are not historical facts are
"forward-looking statements" for the purpose of the safe harbor
provided by Section 21E of the Securities Exchange Act of 1934, as
amended, and Section 27A of the Securities Act of 1933, as amended,
and involve a number of risks and uncertainties.
Forward-looking statements, including, without limitation, those
relating to our future business prospects, net sales, expenses and
income (loss), capital expenditures, tax rate, cash flow, financial
condition, liquidity, covenant compliance, retail and wholesale
demand, integration of acquisitions, R&D investments, and
industry trends, whenever they occur in this press release are
necessarily estimates reflecting the best judgment of the Company's
senior management at the time such statements were made. There are
a number of factors, many of which are beyond the Company's
control, which could cause actual results and events to differ
materially from those described in the forward-looking statements.
These factors include, in addition to other matters described in
this press release, the impacts of COVID-19, or other future
pandemics, on the global economy and on the Company's customers,
suppliers, employees, business and cash flows, pricing pressures
due to domestic and foreign competition, costs and availability of,
and tariffs on, raw materials (particularly steel and aluminum) and
other components, seasonality and cyclicality in the industries to
which we sell our products, availability of credit for financing
the retail and wholesale purchase of products for which we sell our
components, inventory levels of retail dealers and manufacturers,
availability of transportation for products for which we sell our
components, the financial condition of our customers, the financial
condition of retail dealers of products for which we sell our
components, retention and concentration of significant customers,
the costs, pace of and successful integration of acquisitions and
other growth initiatives, availability and costs of production
facilities and labor, team member benefits, team member retention,
realization and impact of expansion plans, efficiency improvements
and cost reductions, the disruption of business resulting from
natural disasters or other unforeseen events, the successful entry
into new markets, the costs of compliance with environmental laws,
laws of foreign jurisdictions in which we operate, other
operational and financial risks related to conducting business
internationally, and increased governmental regulation and
oversight, information technology performance and security, the
ability to protect intellectual property, warranty and product
liability claims or product recalls, interest rates, oil and
gasoline prices and availability, the impact of international,
national and regional economic conditions and consumer confidence
on the retail sale of products for which we sell our components,
and other risks and uncertainties discussed more fully under the
caption "Risk Factors" in the Company's Annual Report on Form 10-K
for the year ended December 31, 2020, and in the Company's
subsequent filings with the Securities and Exchange Commission.
Readers of this press release are cautioned not to place undue
reliance on these forward-looking statements, since there can be no
assurance that these forward-looking statements will prove to be
accurate. The Company disclaims any obligation or undertaking to
update forward-looking statements to reflect circumstances or
events that occur after the date the forward-looking statements are
made, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210614005642/en/
Brian M. Hall, CFO (574) 535-1125 LCII@lci1.com
LCI Industries (NYSE:LCII)
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