IA: Winnebago to Open Waverly Motorhome Support Operations Facility
3 Apr, 2015
Winnebago Industries, Inc., one of the leading United States (U.S.) recreation vehicle manufacturers, has announced a plan to purchase a 33,400 sq. ft. building in Waverly, Iowa, for expansion of the Company's subassembly operations.
"Increased consumer demand and elevated retail activity have resulted in the need for us to expand our motorhome manufacturing capacity," said Winnebago Chairman, CEO and President Randy Potts. "We were pleased to locate a facility that will meet our immediate needs for additional sub-assembly space, and which is also essentially move-in ready. The new facility is also within 100 miles of Forest City, which will enable cost-efficient transportation of component parts to our main campus."
The new Waverly facility will be used for wire loom assembly activities for the Company's motorhomes, and this operation will be relocated from the Forest City campus over the coming months. Located in Waverly's SW Business Park, the building was constructed in 1995. A purchase agreement was entered into in late February and due diligence is proceeding. Assuming no issues are found, it is hoped that the closing can happen within the next 45-60 days. An investment of $1.5 - $2M is anticipated over the next few quarters to purchase the building and for start-up expenses.
About Winnebago Industries
Winnebago Industries, Inc., "The Most Recognized Name in Motorhomes®", is a leading U.S. manufacturer of recreation vehicles, which are used primarily in leisure travel and outdoor recreation activities. The Company builds quality motor homes, travel trailers, fifth wheel products, and transit buses. Winnebago Industries has received the Quality Circle Award from the Recreation Vehicle Dealers Association every year since 1996. The Company's common stock is listed on the New York and Chicago Stock Exchanges and traded under the symbol WGO. Options for the Company's common stock are traded on the Chicago Board Options Exchange. For access to Winnebago Industries' investor relations material or to add your name to an automatic email list for Company news releases, visit http://investor.wgo.net.