PR Newswire reports that Drew Industries, Inc. (NYSE:DW), acquired certain assets of M-Tec Corporation (M-Tec) through its wholly-owned subsidiary, Lippert Components. A supplier of components to the manufactured housing and RV industry, Drew paid $6 million in cash, and may pay an added $0.6 million depending upon sales levels over the next three years. M-Tec produces mobile office unit and RV components. The mobile office unit chassis is similar to the units Drew makes for the manufactured housing industry, and the company anticipates this acquisition will increase production efficiency of the chassis. Lippert will consolidate the operations of M-Tec in northern Indiana into its own production facilities. Drew supplies the manufactured housing industry with windows, doors, bathrooms, chassis, and axles, and is headquartered in White Plains, New York.
(image courtesy Drew Industries)