GOSHEN, IND. (July 13, 12:30 p.m. ET) — Recreational vehicle supplier Kinro Inc. is acquiring the thermoforming design and production operations of Agile Vehicle Modifications Inc., adding to its capabilities in plastic components and tooling.
Goshen-based Kinro, which is part of Drew Industries Inc. of White Plains, N.Y., will pay $300,000 for the business when the deal closes, with up to another $150,000 to be paid depending on the first year of sales, the company said in a July 12 news release. Kinro will lease production space from Agile Vehicle in Elkhart, Ind.
The unit has annual sales of less than $1 million.
Kinro makes vinyl and aluminum windows and doors for the RV and manufactured-building markets. Agile is a specialty converter of custom trucks and vans, producing interior and exterior parts.
The business will give Kinro a wider product and customer line and fits its expansion into specialty markets, said President Scott Mereness.