Kinro Purchases Inventory and Equipment from Philips ProductsOctober 5th, 2009 by Editor
Kinro, a subsidiary of Drew Industries Inc., has purchased inventory and equipment from the recently closed Philips Products Inc. for a cost of a $1 million. The inventory and equipment will be used for the production of front entry doors for manufactured homes, according to a statement by parent company Drew Industries. (CLICK HERE for related story.)
“Not only will this acquisition increase the overall Drew-supplied content per manufactured home, it also adds a new product category for Drew,” says Fred Zinn, Drew’s president and chief executive officer. “We estimate that the current annual market for front entry doors for newly produced manufactured homes is about $12 million to $15 million. In addition, we believe there is a similar size market for replacement doors for the millions of existing manufactured homes.”
Kinro will begin to manufacture entry doors at plants in Indiana and South Carolina within approximately 30 days.