Drew Industries Completes Acquisition Of Elkhart, Indiana-based Manufacturer Of Thermoformed Sheet Plastic Products

ELKHART, Ind., March 25, 2014 /PRNewswire/ — Drew Industries Incorporated
(NYSE: DW), a leading supplier of components for recreational vehicles (RVs) and
manufactured homes, today announced that its wholly-owned subsidiary, Lippert
Components, Inc., has completed the previously announced acquisition of certain
assets and the business of Star Design, LLC., an Elkhart, Indiana-based
manufacturer of thermoformed sheet plastic products for the RV, bus and
specialty vehicle industries.

The purchase price was $12.3 million, which was paid at closing from borrowings
under the Company’s $75 million line of credit with JPMorgan Chase and Wells
Fargo. After funding this acquisition, the Company remains well-positioned to
take advantage of investment opportunities to further improve its results.

“We are very excited about acquiring Star Design and adding their innovative
products to our ever-growing product lineup,” said Scott Mereness, Drew’s
President. “We expect to leverage our extensive marketing and distribution
capabilities to continue to grow this business. Further, we expect this
acquisition to be immediately accretive to Drew’s earnings.”

Lippert Components believes the additional product lines and diversified
customer base will accelerate Lippert Components’ expansion into specialty
markets. Star Design has annual sales of approximately $10 million.

About Drew Industries
From 34 factories located throughout the United States, Drew Industries, through
its wholly-owned subsidiary, Lippert Components(TM), supplies a full line of
components for the leading manufacturers of recreational vehicles and
manufactured homes. In addition, Drew manufactures components for adjacent
industries including buses; trailers used to haul boats, livestock, equipment
and other cargo; truck caps; modular housing; and factory-built mobile office
units. Drew’s products include steel chassis; vinyl and aluminum windows and
screens; slide-out mechanisms and solutions; axles and suspension solutions;
furniture and mattresses; thermoformed bath, kitchen and other products; manual,
electric and hydraulic stabilizer and lifting systems; chassis components;
entry, baggage, patio and ramp doors; entry steps; awnings; electronics;
aluminum extrusions; and other accessories. Additional information about Drew
and its products can be found at www.drewindustries.com.

Forward-Looking Statements
This press release contains certain “forward-looking statements” with respect to
our financial condition, results of operations, business strategies, operating
efficiencies or synergies, competitive position, growth opportunities,
acquisitions, plans and objectives of management, markets for the Company’s
Common Stock and other matters. Statements in this press release that are not
historical facts are “forward-looking statements” for the purpose of the safe
harbor provided by Section 21E of the Securities Exchange Act of 1934, as
amended, and Section 27A of the Securities Act of 1933, as amended, and involve
a number of risks and uncertainties.

Forward-looking statements, including, without limitation, those relating to our
future business prospects, net sales, expenses and income (loss), cash flow, and
financial condition, whenever they occur in this press release are necessarily
estimates reflecting the best judgment of our senior management at the time such
statements were made. There are a number of factors, many of which are beyond
the Company’s control, which could cause actual results and events to differ
materially from those described in the forward-looking statements. These factors
include, in addition to other matters described in this press release, pricing
pressures due to domestic and foreign competition, costs and availability of raw
materials (particularly ABS plastic sheet) and other components, availability of
credit for financing the retail and wholesale purchase of products for which we
sell our components, availability and costs of labor, employee retention,
inventory levels of retail dealers and manufacturers, levels of repossessed
products for which we sell our components, seasonality and cyclicality in the
industries to which we sell our products, the financial condition of our
customers, the financial condition of retail dealers of products for which we
sell our components, retention and concentration of significant customers, the
pace of and successful integration of acquisitions, realization of efficiency
improvements, the successful entry into new markets, the costs of compliance
with increased governmental regulation, interest rates, oil and gasoline prices,
the impact of international, national and regional economic conditions and
consumer confidence on the retail sale of products for which we sell our
components, and other risks and uncertainties discussed more fully under the
caption “Risk Factors” in our Annual Report on Form 10-K for the year ended
December 31, 2013, and in our subsequent filings with the Securities and
Exchange Commission. We disclaim any obligation or undertaking to update
forward-looking statements to reflect circumstances or events that occur after
the date the forward-looking statements are made, except as required by law.

SOURCE Drew Industries Inc.

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