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Drew Industries Inc., a component supplier for the recreational vehicle and manufactured housing industries, was recently named to BusinessWeek’s annual “Hot Growth” list of the 100 best small companies.
Drew, parent to Lippert Components Inc. and Kinro Inc., was ranked 57th, marking the second consecutive year the company was recognized by the publication. In 2004, Drew was ranked 64th on the Business Week list.
“We are pleased to be recognized by BusinessWeek as one of America’s best performing growth companies,” said Leigh J. Abrams, Drew’s president and CEO. “During the last several years our success has been based on a combination of organic growth, new product introductions and targeted acquisitions. Moving forward, we expect this strategy to help continue our growth and enhance our profitability.”
To create the list, BusinessWeek begins with a database of 2,200 publicly traded companies with revenues of $50 million to $1.5 billion a year. The companies are then ranked by sales and earnings growth, as well as return on capital over three years.
Contenders must have a market cap of $25 million or more and a stock that trades for at least $5 per share. Companies that underperform the NASDAQ composite are eliminated, as are companies with recent earnings disappointments.
The top 100 remaining companies make BusinessWeek’s “Hot Growth” list.