Lippert Acquires Tool and Die Company
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowElkhart-based Lippert Components Inc. has purchased Midstates Tool & Die & Engineering Inc. The deal for Midstates means the business, also located in Elkhart, will now be operated as Lippert Automation, Tool and Die. July 9, 2013
News Release
ELKHART, Ind. – Lippert Components, Inc. (LCI) announces that it has acquired certain assets and the engineering team of Midstates Tool & Die & Engineering, Inc., a designer and builder of automated equipment, production tooling, progressive dies and one-hit stamping dies. The business will be operated as Lippert Automation, Tool and Die.
“The assets and people we’ve added from Midstates will help us design more efficient and consistent automation processes that are key in producing high quality products for our customers,” said Jason Lippert, Chief Executive Officer of Drew Industries Incorporated, LCI’s parent company.
The former Midstates team brings decades of experience and provides additional support and expertise as a part of the LCI Steel Division. The business also brings LCI several new customers, allowing the Steel Division to further diversify and expand its market reach.
Vice President of LCI Automation and Manufacturing Jeff Few believes the acquisition will help the Steel Division move to the next level. “Combining the seasoned specialists of Midstates with our automation and tool and die team will give us velocity as we further automate to increase productivity and quality.”
Lippert expects the acquisition to drive the next phase of automation for LCI. “The Midstates team has developed a strong reputation for quality workmanship, and we expect to build on that strength.”
About Lippert Components:
Lippert Components, Inc. (LCI™) and Kinro, Inc., its sister company, subsidiaries of Drew Industries Incorporated (NYSE:DW), are industry leaders in a broad line of products dedicated to improving the mobile lifestyle. LCI and Kinro supply a broad array of components for RVs, manufactured homes, modular housing, truck caps and buses, as well as for trailers used to haul boats, livestock, equipment and other cargo, including chassis, fabricated steel chassis parts, slide-out mechanisms, axles, upholstered furniture, mattresses, windows, doors, leveling and stabilization equipment, suspension enhancement products, electronics, thermoformed products, and aluminum extrusion products.
Source: Lippert Components Inc.