August 30, 2016 by RVBusiness
Thor Industries Inc. engaged in a time-honored Wall Street tradition Monday (Aug. 29) by ringing the “Closing Bell” at the New York Stock Exchange (NYSE) in Manhattan’s financial district.
Peter B. Orthwein, Thor executive chairman, along with President and CEO Bob Martin and other members of Thor’s management team officially marked the end of trading on Monday with a ceremonial gavel signifying the 30th anniversary of Thor’s initial common stock listing on the NYSE. That milestone capped a series of recent upbeat headlines for the Elkhart, Ind.-based manufacturer of towable and motorized recreational vehicles — now the world’s largest RV builder. Thor on June 7 reported record sales during its fiscal third quarter as year-over-year 3Q revenue climbed 9.4% to $1.28 billion. Then came Thor’s June 30 acquisition of Middlebury, Ind.-based Jayco Inc., a foundational, 48-year-old, family-held firm that now joins publicly held Thor’s other subsidiaries as part of a decentralized company that has been dramatically changing the North American RV industry’s landscape lately. Thor’s stand-alone subsidiaries include Airstream Inc., Keystone RV Co., Heartland Recreational Vehicles, KZ Inc., Thor Motor Coach Inc. and Postle Aluminum while Dutchmen Mfg. Inc., Cruiser RV, DRV, Bison Coach, CrossRoads Recreational Vehicles, Livin Lite Recreational Vehicles operate under those divisions.