Drew Industries Sells Extrusion Assets to Atrium; Establishes Supply Agreement
April 15, 2014
Drew Industries announced that its subsidiary, Lippert Components, Inc., has entered into a six-year aluminum extrusion supply agreement with Atrium Windows and Doors. Drew also sold certain of its aluminum extrusion assets to Atrium for $7.5 million.
"Extruded aluminum is a key raw material for us, and identifying a strong supplier such as Atrium was critical in our search for a new third-party supplier," says Scott Mereness, president of Drew Industries, which supplies components to manufacturers of RVs and manufactured homes through Lippert. "The sale of our extrusion-related assets will free up needed manufacturing space, as well as allow management to focus on other opportunities with higher growth potential."