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Kemlite, the supplier of fiberglass reinforced panels to the manufacturers of towable and motorized RVs, anticipates the RV market will experience “modest” growth in 2004, according to Crane Co., Kemlite’s parent.
In the third quarter, Kemlite, manufacturer of the Filon and Medallion brands, experienced RV market “softness” when compared with a record level of business in the July-through-September portion of 2002, Crane reports.
Kemlite is a part of Crane’s Engineered Materials segment, which reported a 5% decline in sales revenue in the third quarter to $64.3 million and a 1% decline in operating earnings to $13.3 million. “Softened” sales to RV industry customers accounted for the operating earnings decline, according to Crane, a New York Stock Exchange-listed company.
“The RV build rate for 2003 is expected to slightly trail the build rate for 2002, although still considered strong based on recent historical production levels,” Crane said. “Management expects the RV and truck trailer markets to remain strong and raw material costs for styrene and resins to stabilize.
“Operating profit in 2004 (for the Engineered Materials segment) is expected to be slightly higher than 2003 with continued improvement in the truck-trailer transportation market, a modest increase in the RV market and a continued focus on cost containment, more than offsetting increased raw material costs,” Crane reports.