Drew to Mark 50th; Will Ring NYSE Closing Bell
Drew Industries Inc., parent to Lippert Components Inc. and Kinro Inc., will ring the closing bell at the New York Stock Exchange (NYSE) on Oct. 5 to commemorate Drew’s 50th year as a publicly owned company.
According to a press release, members of Drew’s board along with executive officers from Drew, Lippert and Kinro will join in the ceremony.
Drew’s initial public offering was completed in 1962, at which time it was engaged primarily in real estate financing, ownership and management. During the ensuing years, as a result of management’s focus on creating shareholder value, Drew entered new markets while completing over 35 acquisitions.
Today, from 31 factories located throughout the U.S. and with a work force of 5,000 employees, Drew is the largest supplier of components to major national manufacturers of recreational vehicles and manufactured homes and has annual revenues in excess of $800 million.
Drew Chairman Leigh J. Abrams noted, “We are extremely pleased with the success of our first 50 years, and our young and dynamic operating executives that have risen to top management positions with us over the past decade. They have the capability, enthusiasm and experience to continue to propel the company forward.”