Dura Automotive Systems Inc., the parent of RV industry supplier firms Atwood Mobile Products and Excel Industries Inc., reported record earnings during the first three months of this year.
Dura’s earnings increased 76% to $16.5 million during the three months ended March 31, and its sales revenue increased 158% to $682.8 million.
The acquisitions during 1999 of Excel and two other auto industry supplier firms contributed to the sharp increase in sales, according to Dura President and CEO Karl Storrie.
Dura acquired Excel on March 23, 1999, for $155.5 million in cash and $100 million in assumed debt. Excel acquired Atwood prior to its acquisition by Dura.