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Old 02-16-2019, 02:24 PM   #1
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Interstate vs Roadtek

On February 01 THOR Industries bought HYMER GROUP, a similarly huge German manufacturer that also owned ROADTREK in Cambridge, Ontario.

Roadtrek was not included in the sale.

https://www.erwinhymergroup.com/en/n...facturer~p~471

15 days later, Erwin Hymer Group North American went into receivership, throwing 900 employees out of work, just in time for the Family Day holiday in Ontario.

This is obviously part of the "synergy" loved by investors and proclaimed in the sale announcement.

The heartless move is designed to eliminate competition and keep the price of your Interstate way up there in the clouds.

Sergei
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Old 02-16-2019, 04:26 PM   #2
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So, what you're asking for is VW to bring back the $39,000.00 dollar Westphalia?

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Old 02-16-2019, 04:47 PM   #3
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... The heartless move is designed to eliminate competition and keep the price of your Interstate way up there in the clouds.
That is an interesting conspiracy theory. Have you followed the details of the Erwin Hymer Group North America (EHGNA) saga that has unfolded over the last two months? I doubt this was a planned move on Thor's part. Looks more like it was fraud by the senior managers at EHGNA.

Are you reading that junk being published by Mike Wendland?

https://rvlifestyle.com/the-roadtrek...onal-thoughts/
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Old 02-16-2019, 05:13 PM   #4
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So, what you're asking for is VW to bring back the $39,000.00 dollar Westphalia?

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Do you get the California on that side of the pond?

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Old 02-16-2019, 05:21 PM   #5
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It might be more valuable to do your homework concerning Roadtrek's troubles before announcing an unfounded assertion against Thor. Not buying an entity undergoing investigation for cooked books is not related to eliminating competition but avoiding a financial nightmare for Thor shareholders.

Erwin Hymer Group North American was formed when Erwin Hymer Global bought Roadtrek in 2016 and held it as a separate sub-entity. The Roadtrek brand experienced rapidly growing sales, three-fold within two years achieving 28% class-B market share in NA, before it was discovered during the sale to Thor (agreed to in September 2018) that the EHGNA management team had been falsifying operational and financial information for that entity within the greater deal. The financial irregularities were discovered in December 2018 during the due diligence stage which is why they are performed by the acquiring company.

The general public and employees were made aware of these irregularities in January when independent management was brought in to seize control. A Canadian court placed Erwin Hymer Group North America into receivership on Friday (Feb 15th) which immediately terminated operations as investigations continue.
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Old 02-16-2019, 06:01 PM   #6
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Yes, I didn't do my due diligence and have a red face.

I just spotted the news stories here in Toronto and added up the Feb 1 closing date and the Feb 15 receivership, like 2 x 2 make 4, plus a trail of hedge fund acquisitions resulting in hurt for ordinary people again.

In this case 2 x2 made 5. I should have checked before assuming things.

Sorry.


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Old 02-16-2019, 07:11 PM   #7
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Do you get the California on that side of the pond?

Unfortunately, no........the Eurovan's last days in NA were in 2004. The last Westies, (outfitted by Winnebago) were in 1996 IIRC, (at least here in Canada). My Dad has a five cylinder 1994 Westy that people have offered him big money for over the years.

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Old 02-16-2019, 07:16 PM   #8
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Do you get the California on that side of the pond?
No - we do not. We just get a lot of subpar products from most USA RV manufacturers.
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Old 02-17-2019, 12:46 AM   #9
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In Europe there is a growing trend (Ford, VW and MB to start) for campers supplied direct from the manufacturer. In some cases, like the VW, it is a factory built unit, in others, like the Ford it is by a factory tie up with an upfitter.

Either way you go to the dealer and the campers are sitting on the forecourt next to the new cars.
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Old 02-17-2019, 05:29 AM   #10
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Does anyone know if VW intends to expand the California camper market to the US?

https://www.volkswagen-vans.co.uk/en...alifornia.html

We started out with VW vans in the 60's . . . might as well go full circle!



Thanks,

Peter

PS -- The Roadtrek websites are down FYI.
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