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02-16-2019, 02:24 PM
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#1
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Rivet Master
1976 Argosy 24
now being enjoyed by Heath and Mary in
, Vermont
Join Date: Sep 2005
Posts: 1,432
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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
__________________
Sergei
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02-16-2019, 04:26 PM
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#2
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Dazed and Confused
Currently Looking...
1983 31' Airstream310
Hillsburgh
, Ontario
Join Date: Sep 2012
Posts: 3,805
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So, what you're asking for is VW to bring back the $39,000.00 dollar Westphalia?
Cheers
Sidekick Tony
__________________
Per Mare, Per Terram and may all your campaigns be successful.
“It’s a recession when your neighbor loses his job; it’s a depression when you lose your own.” "Harry S Truman"
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02-16-2019, 04:47 PM
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#3
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Rivet Master
2024 Interstate 19
Fulton
, Maryland
Join Date: May 2010
Posts: 3,883
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Quote:
Originally Posted by SmokelessJoe
... The heartless move is designed to eliminate competition and keep the price of your Interstate way up there in the clouds.
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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/
__________________
- - Mike
--------------------------
2024 Airstream Interstate 19e AWD
Previous: 2013 Airstream Interstate 3500 Ext Lounge
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02-16-2019, 05:13 PM
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#4
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Keen amature
1975 20' Argosy 20
Chestfield
, Kent
Join Date: Mar 2014
Posts: 3,535
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Quote:
Originally Posted by Isuzusweet
So, what you're asking for is VW to bring back the $39,000.00 dollar Westphalia?
Cheers
Sidekick Tony
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Do you get the California on that side of the pond?
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02-16-2019, 05:21 PM
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#5
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Rivet Puller
2003 28' Safari S/O
Atlanta Burbs
, Georgia
Join Date: Jul 2010
Posts: 2,006
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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.
__________________
"Good judgement comes from experience. Experience comes from bad judgement."
Sir Tristan
Air #48582, S/SO #003, WBCCI #4584
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02-16-2019, 06:01 PM
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#6
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Rivet Master
1976 Argosy 24
now being enjoyed by Heath and Mary in
, Vermont
Join Date: Sep 2005
Posts: 1,432
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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.
Sergei
__________________
Sergei
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02-16-2019, 07:11 PM
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#7
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Dazed and Confused
Currently Looking...
1983 31' Airstream310
Hillsburgh
, Ontario
Join Date: Sep 2012
Posts: 3,805
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Quote:
Originally Posted by martin300662
Do you get the California on that side of the pond?
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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.
Cheers
Sidekick Tony
__________________
Per Mare, Per Terram and may all your campaigns be successful.
“It’s a recession when your neighbor loses his job; it’s a depression when you lose your own.” "Harry S Truman"
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02-16-2019, 07:16 PM
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#8
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Rivet Master
2024 Interstate 19
Fulton
, Maryland
Join Date: May 2010
Posts: 3,883
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Quote:
Originally Posted by martin300662
Do you get the California on that side of the pond?
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No - we do not. We just get a lot of subpar products from most USA RV manufacturers.
__________________
- - Mike
--------------------------
2024 Airstream Interstate 19e AWD
Previous: 2013 Airstream Interstate 3500 Ext Lounge
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02-17-2019, 12:46 AM
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#9
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Keen amature
1975 20' Argosy 20
Chestfield
, Kent
Join Date: Mar 2014
Posts: 3,535
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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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02-17-2019, 05:29 AM
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#10
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Rivet Master
2014 20' Flying Cloud
Sag Harbor
, New York
Join Date: Jun 2015
Posts: 17,523
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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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11-22-2019, 12:00 PM
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#11
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Rivet Master
1964 26' Overlander
1974 31' Sovereign
Milton
, ON
Join Date: Oct 2002
Posts: 1,225
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It won't be much consolation to the employees who lost their jobs, but the silver lining in the Erwin Hymer closing is that their 250,000 sq ft plant has been bought by Conestoga College to expand their trades training programs. Hymer didn't own the building and land which Conestoga bought from BlackBerry for $33.5 million.
Conestoga College buys former Erwin Hymer plant
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