| Type | Public (NYSE: THO) |
|---|---|
| Industry | RV's, buses |
| Founded | 1980 (through acquisition of Airstream) |
| Founder(s) | Wade Thompson and Peter Orthwein |
| Headquarters | Jackson Center, Ohio, United States |
| Key people | Wade Thompson (co-founder and CEO) Peter Orthwein (co-founder and chairman) |
| Revenue | $2.32 billion USD (2008) |
| Operating income | $322 million USD (2008) |
| Subsidiaries | See subsidiaries below |
| Website | Thor Industries home page |
Thor Industries, Inc. (NYSE: THO) is a manufacturer of recreational vehicles and mid-sized commercial buses.
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Thor Industries, Inc.[1], was founded on August 29, 1980, when Wade F. B. Thompson and Peter B. Orthwein acquired Airstream. The name "Thor" combined the first two letters of each entrepreneur's name. Despite its image, Airstream had not fared well during the economic downturn of the late-1970s. By focusing on improving quality while reducing costs, Airstream returned to profitability in its first year under the new Thor management.
In 1982, Thor purchased the Canadian company, General Coach, which manufactures travel trailers and motorhomes. Also part of this acquisition was Thor America, which manufactures Citation and Chateau travel trailers and fifth wheels.
In 1984, Thor became a public company and in 1986 was listed on the New York Stock Exchange. That same year, Forbes magazine ranked Thor sixth out of the "200 best small companies in America.".[1]
In 1991, Thor acquired Dutchmen, a brand of fifth wheel and conventional travel trailers. Four Winds International, manufacturer of class A and C motorhomes, was acquired in 1992. Komfort, a maker of fifth-wheel and conventional travel trailers, and Skamper, a builder of folding camping trailers, became members of the Thor family in 1995.
1996 saw the start up of Thor California and the introduction of the Tahoe and Wanderer brands of trailers and fifth wheels. These products became instant hits with RV-ers and the fastest-growing brands on the market.
With the acquisition of Keystone RV in 2001, Damon RV in 2003, and CrossRoads RV in 2004, Thor Industries is the largest RV manufacturer.[2]
In September 2010, Thor Industries' subsidiaries Damon Motor Coach' and Four Winds International merged. Combined, Damon and Four Winds became the #1 retail selling motorhome in North America.[3]
Thor announced its acquisition of Heartland Recreational Vehicles, LLC ("Heartland"), a privately-held RV manufacturer based in Elkhart, Indiana, for $100 million in cash and 4,300,000 shares of Thor Industries, Inc. common stock, subject to adjustment on Sept 17th, 2010. The acquisition, Thor’s first major purchase since 2005 and just two weeks after its 30th anniversary, was rumored for several days.
Thor is also the largest mid-size bus manufacturer, having acquired ElDorado Motor Corp., National Coach, Champion Bus, Heartland and Goshen Coach throughout the past two decades.
Like several other firms in the industry, Thor offers employee incentives based on productivity, with reductions in bonuses based on warranty work. Thor encourages employees to be actively involved in community programs and Thor executives serve on the boards of numerous civic organizations.
Commercial Bus
Recreation Vehicles