THO - THOR industries acquires elkhart composites inc. maker of elkboard polypropylene-based composite materials for the RV industry

Airxcel, a subsidiary of THOR Industries (NYSE:THO), has acquired Elkhart, Indiana-based Elkhart Composites. Elkhart Composites develops and sells a proprietary foamed polypropylene-based composite material used in the recreational vehicle industry for sidewalls. The sustainable material is marketed and sold under the "Elkboard" brand name. Commenting on the deal, THOR President and CEO Bob Martin said, "The growth potential of Elkboard is exponential. Our companies have been purchasing 100% of the Elkboard produced but that number has only supported a fraction of the RVs we produce. THOR and Airxcel have already committed to making capital investments into Elkboard to expand its production capacity to a multiple of its current production capacity." Thor Industries is scheduled to report its FQ1 earnings tomorrow, with the consensus for EPS of $3.19 and revenue of $3.46B.

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THOR industries acquires elkhart composites, inc., maker of elkboard polypropylene-based composite materials for the RV industry