Forest City, Iowa-based Winnebago Industries Inc. announced a plan to purchase a 33,400-square-foot building in Waverly, Iowa, for expansion of the company’s subassembly operations.
“Increased consumer demand and elevated retail activity have resulted in the need for us to expand our motorhome manufacturing capacity,” said Winnebago Chairman, CEO and President Randy Potts. “We were pleased to locate a facility that will meet our immediate needs for additional sub-assembly space, and which is also essentially move-in ready. The new facility is also within 100 miles of Forest City, which will enable cost-efficient transportation of component parts to our main campus.”
The new Waverly facility will be used for wire loom assembly activities for the company’s motorhomes, which will be relocated from the Forest City campus over the coming months. Located in Waverly’s SW Business Park, the building was constructed in 1995. A purchase agreement was entered into in late February and due diligence is proceeding.
Assuming no issues are found, it is hoped that the closing can happen within the next 45-60 days. An investment of $1.5 million to $2 million is anticipated over the next few quarters to purchase the building and for start-up expenses.