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Manufacturers Closely Watching Retail Turn

April 28, 2000 by · Leave a Comment 

Blame it on whatever you want — gas prices, interest rates or stock market jitters — there certainly are signs of a softening RV marketplace. A number of companies have their production employees working reduced hours, and there were reports of temporary plant shutdowns to bring production volume into balance with retail sales rates. National RV Holdings Inc., while posting softer earnings during the first quarter, predicts lower second quarter revenues based on “current retail... Read more

Manufacturers Closely Watching Retail Turn

April 28, 2000 by · Leave a Comment 

Blame it on whatever you want — gas prices, interest rates or stock market jitters — there certainly are signs of a softening RV marketplace. A number of companies have their production employees working reduced hours, and there were reports of temporary plant shutdowns to bring production volume into balance with retail sales rates. National RV Holdings Inc., while posting softer earnings during the first quarter, predicts lower second quarter revenues based on “current retail... Read more

Rexhall Reports Lower Sales and Earnings

April 28, 2000 by · Leave a Comment 

Class A motorhome manufacturer Rexhall Industries Inc. reported lower sales and earnings during the first quarter because of the Chapter 11 bankruptcy filing by its largest customer, the RV Supercenter dealership in Arizona. Rexhall’s earnings declined 23% to $964,000 and its sales were down 7% to $20.7 million during the three months ended March 31. RV Supercenter accounted for 16% of Rexhall’s sales revenue in 1999 and it currently is Rexhall’s only dealer in Arizona, according to the company. “Excluding... Read more

Rexhall Reports Lower Sales and Earnings

April 28, 2000 by · Leave a Comment 

Class A motorhome manufacturer Rexhall Industries Inc. reported lower sales and earnings during the first quarter because of the Chapter 11 bankruptcy filing by its largest customer, the RV Supercenter dealership in Arizona. Rexhall’s earnings declined 23% to $964,000 and its sales were down 7% to $20.7 million during the three months ended March 31. RV Supercenter accounted for 16% of Rexhall’s sales revenue in 1999 and it currently is Rexhall’s only dealer in Arizona, according to the company. “Excluding... Read more

Thor Continues Pursuit of Coachmen

April 28, 2000 by · Leave a Comment 

Thor Industries Inc. Chairman Wade F.B. Thompson is continuing his effort to acquire control of Coachmen Industries Inc., despite the rejection of his buy-out proposal by Coachmen’s board. In a document submitted to the Securities & Exchange Commission (SEC), Thompson revealed that Thor has distributed proxy cards to Coachmen shareholders, and he is asking Coachmen shareholders to use the cards to officially withhold their votes for nominees to Coachmen’s board. The proxy cards are to be... Read more

Thor Continues Pursuit of Coachmen

April 28, 2000 by · Leave a Comment 

Thor Industries Inc. Chairman Wade F.B. Thompson is continuing his effort to acquire control of Coachmen Industries Inc., despite the rejection of his buy-out proposal by Coachmen’s board. In a document submitted to the Securities & Exchange Commission (SEC), Thompson revealed that Thor has distributed proxy cards to Coachmen shareholders, and he is asking Coachmen shareholders to use the cards to officially withhold their votes for nominees to Coachmen’s board. The proxy cards are to be... Read more

Jayco Begins Factory Construction

April 28, 2000 by · Leave a Comment 

Jayco Inc. recently began building two new 87,000-square-foot factories on a 90-acre site just east of its main manufacturing complex in Middlebury, Ind. The two plants will house manufacturing operations for conventional travel trailers and fifth-wheels and permit Jayco to “significantly increase production to meet market demand.” The closely-held Jayco ranked No. 4 in towables production during 1999 with a 9.7% retail market share, according to Statistical Surveys Inc. Jayco announced... Read more

Jayco Begins Factory Construction

April 28, 2000 by · Leave a Comment 

Jayco Inc. recently began building two new 87,000-square-foot factories on a 90-acre site just east of its main manufacturing complex in Middlebury, Ind. The two plants will house manufacturing operations for conventional travel trailers and fifth-wheels and permit Jayco to “significantly increase production to meet market demand.” The closely-held Jayco ranked No. 4 in towables production during 1999 with a 9.7% retail market share, according to Statistical Surveys Inc. Jayco announced... Read more

Thor’s Offer Could Be Worth More Than $18

April 28, 2000 by · Leave a Comment 

The Thor Industries Inc. offer to buy Coachmen Industries Inc. currently is worth more than $18 a share because the stock portion of the offer “is pegged to a fixed exchange ratio,” Thor Chairman Wade Thompson revealed Friday. On April 17, Thor announced it would pay $18 a share for each share of Coachmen stock that it did not own. Sixty percent would be paid in cash and the remainder in the form of Thor stock. The fixed exchange ratio is 0.7366 Thor shares for each Coachmen share, Thompson... Read more

Thor’s Offer Could Be Worth More Than $18

April 28, 2000 by · Leave a Comment 

The Thor Industries Inc. offer to buy Coachmen Industries Inc. currently is worth more than $18 a share because the stock portion of the offer “is pegged to a fixed exchange ratio,” Thor Chairman Wade Thompson revealed Friday. On April 17, Thor announced it would pay $18 a share for each share of Coachmen stock that it did not own. Sixty percent would be paid in cash and the remainder in the form of Thor stock. The fixed exchange ratio is 0.7366 Thor shares for each Coachmen share, Thompson... Read more

Sharply Higher Sales and Earnings at Starcraft

April 28, 2000 by · Leave a Comment 

Van converter and auto industry supplier Starcraft Corp. reported sharply higher sales and earnings during the three months ended April 2, the second quarter of its fiscal year 2000. Starcraft’s second fiscal quarter sales almost doubled to $36.4 million and its earnings increased almost fifteenfold to $1.8 million. During the six months ended April 2, Starcraft’s sales totaled $72.5 million and its earnings amounted to $2.8 million. Starcraft struggled during the late 1990s because the van conversion... Read more

Sharply Higher Sales and Earnings at Starcraft

April 28, 2000 by · Leave a Comment 

Van converter and auto industry supplier Starcraft Corp. reported sharply higher sales and earnings during the three months ended April 2, the second quarter of its fiscal year 2000. Starcraft’s second fiscal quarter sales almost doubled to $36.4 million and its earnings increased almost fifteenfold to $1.8 million. During the six months ended April 2, Starcraft’s sales totaled $72.5 million and its earnings amounted to $2.8 million. Starcraft struggled during the late 1990s because the van conversion... Read more

Keystone Completes Acquisition

April 28, 2000 by · Leave a Comment 

Towables manufacturer Keystone RV Co. formally completed the acquisition of the Towable and Camplite division of Damon Corp. at 2 p.m. Central Time today. Keystone Chairman Cole Davis will visit the Damon towables plant in Elkhart, Ind., at 6 a.m. Monday to greet employees, who will officially become Keystone employees at that time. The acquisition lifts Keystone to the No. 4 position in terms of retail market share among the manufacturers of travel trailers and fifth wheels, Davis said. Damon will... Read more

Keystone Completes Acquisition

April 28, 2000 by · Leave a Comment 

Towables manufacturer Keystone RV Co. formally completed the acquisition of the Towable and Camplite division of Damon Corp. at 2 p.m. Central Time today. Keystone Chairman Cole Davis will visit the Damon towables plant in Elkhart, Ind., at 6 a.m. Monday to greet employees, who will officially become Keystone employees at that time. The acquisition lifts Keystone to the No. 4 position in terms of retail market share among the manufacturers of travel trailers and fifth wheels, Davis said. Damon will... Read more

Coachmen Issues Earnings Warning

April 27, 2000 by · Leave a Comment 

Coachmen Industries Inc. warned investors today that its first quarter earnings will be below Wall Street expectations. Stock market analysts, on average, estimated Coachmen would earn 30 cents a share during the first quarter. However, Coachmen revealed today that its first quarter earnings will amount to 25 to 26 cents a share. Coachmen plans to issue its first quarter earnings on May 3. Coachmen issued the earnings warning while, at the same time, announcing it rejected an unsolicited acquisition... Read more

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