The merger of Elkhart-based Skyline Corp. and Champion Enterprises Holdings LLC in Michigan is complete. The combined company, known as Skyline Champion Corp., will trade on the New York Stock Exchange under the ticker symbol SKY.
Skyline Champion will be headquartered in Elkhart with executive offices in Michigan. Chief Executive Officer Keith Anderson says the combined company is now the largest independent, publicly-traded factory-built housing company in the U.S. with combined revenue of more than $1.3 billion.
"The increased size and scale, coupled with a strong balance sheet and significant cash flow generation capability, has us well positioned to execute our long term growth strategy," said Anderson. "There is a tremendous opportunity for Skyline Champion to take advantage of the attractive market dynamics in the industry given our broader geographic footprint across North America and our enhanced product offering. We will remain committed to providing quality products and outstanding customer service as we focus on executing our strategy on our newly enhanced platform."
Anderson says as the businesses integrate with each other, Skyline Champion expects to achieve savings of $10 to $15 million, which will be primarily driven by direct cost savings, reduced overhead costs and operational improvement opportunities.
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