Shelling out $18.8 million for the company that had sales last year of $12 million, Jason Lippert, CEO of Lippert Components and its parent company, Drew Industries, Inc. (NYSE:DW), said Drew has been working for three years to find an entry into the European caravan market. Davide Nardini and his wife, Susanna Azzolini, in 1995 began Project 2000, developing a motorized step that has become a mainstay in the European caravan industry.
They have engineered other items, including a top quality, space-saving bed lifting system that is now used by many U. S. manufacturers, according to prnewswire.
Said Lippert: “LCI’s strength in the North American RV market has always been the introduction of new and innovative products that enhance the mobile lifestyle. We plan on bringing more products and choices to the European market, and we expect to provide Project 2000 the necessary resources to develop these products.”
Drew manufactures and distributes a wide variety of products from 45 facilities across the U. S. and Canada, and now Italy as well. ##
(Photo credit:aicshow–Italian caravan)
