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It looks like there are problems with the company that owns Roadtrek.
#1
https://kitchener.ctvnews.ca/employees-a...-1.4258480
https://rvdailyreport.com/industry/erwin...y-scandal/
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#2
From that same article: “Last fall, American manufacturer Thor Industries was looking to acquire Erwin Hymer for 2.1 billion Euros, but that deal has not closed.”

Man thats worth a lot!!  I realize thats RT’s parent but still...
They say when you get older two things happen, one is you lose your memory and the other, I forget.

Organized people are simply too lazy to search for stuff.
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#3
That first link above says, "Everyone is standing around," said current employee William Singleton.  "Everyone is scared."

What kind of fool stands around gossiping with his hands in his pockets when people are being laid off?
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#4
Probably one that's in shock.
Stay Tuned
rvpopeye



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#5
https://rvdailyreport.com/industry/erwin...ularities/
RV Industry News
January 22, 2019
2:04 pm

Erwin Hymer group alerts business partners to ‘irregularities’
KITCHENER, Ontario — In a letter to its business partners, Erwin Hymer Group North America promised to provide a full assessment of the situation within a few weeks, RV Daily Report has learned.

The letter was signed by Michael Snell, vice president of sales and service.

Here is the text of the letter:

Dear business partner,

We wish to inform you about recent developments in our company. Erwin Hymer Group (EHG) is currently reviewing the business of Erwin Hymer Group North America (EHG NA).

An initial investigation has shown irregularities in the company’s reporting. We have initiated a detailed audit procedure involving external auditors. Erwin Hymer Group is acting in accordance with its zero tolerance policy and is committed to a full and complete investigation.

While the matter is investigated, several managers of EHG NA have been suspended pending the outcome of the investigation.

As an immediate measure Erwin Hymer Group deployed management from international operations to support the ongoing operations of EHG NA and the external investigation. EHG NA’s focus on its products, business partners and customers remains unchanged.

Thor Industries has announced that it expects that the purchase of Erwin Hymer Group will be completed within the company’s fiscal third quarter ending April 30, 2019. Due to the ongoing investigation, Thor Industries and EHG’s selling shareholders are finalizing discussions to exclude EHG’s North American operations from Thor’s purchase of EHG.

We are aware that this development may cause questions and uncertainties amongst our customers and partners. We expect to have a full assessment of the situation in the coming weeks and will inform you on further developments.

In the meanwhile, I want to thank you for your cooperation and partnership and assure you that we remain focused on our products, business partners and customers.
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#6
https://www.therecord.com/news-story/913...-rv-maker/
Financial scandal swirling at local RV maker
Turmoil looks to jeopardize pending sale to U.S. firm
News Jan 21, 2019 by Brent Davis Waterloo Region Record


WATERLOO REGION — A financial scandal is enveloping a local motorhome manufacturer amid reports that senior executives have been suspended and dozens of employees laid off.

The turmoil at Erwin Hymer Group North America has also led to its likely exclusion from the pending sale of German parent Erwin Hymer Group to U.S.-based Thor Industries.

On Monday, Thor Industries — parent company to iconic RV names like Airstream, Dutchmen and Jayco — announced that it is finalizing discussions to exclude Erwin Hymer Group's North American operations from the sale.

Revised terms are expected to include a reduced purchase price; the original deal was valued at approximately 2.1 billion euros, or more than $3.1 billion Cdn.

It's not clear what that means for the future for the North American subsidiary, based in Waterloo Region with offices and manufacturing facilities in Kitchener and Cambridge.

Formerly Roadtrek Motorhomes, the business was purchased in 2016 by Erwin Hymer Group, one of the largest global players in the RV industry and manufacturers of the popular Hymer brand.

The local operations produce the Roadtrek series of camper vans and Hymer-branded vehicles and trailers for the North American market.

On Monday, Erwin Hymer Group announced that it has launched an investigation into the North American operations due to "irregularities in the company's reporting."

A news release from the firm stated that several managers from Erwin Hymer Group North America have been suspended pending the outcome of the investigation, which includes a detailed audit procedure involving external auditors.

"As an immediate measure Erwin Hymer Group deployed management to support the ongoing operations of (Erwin Hymer Group North America) and the external investigation," the release states, adding that the local operation's "focus on its products, business partners and customers remains unchanged."
Dozens of employees in Kitchener and Cambridge — possibly upward of 200 — were reportedly laid off last week. However, layoffs have not been confirmed by the company, and officials aren't offering any comment beyond the statement.

Aside from its news release, officials at Thor Industries referred further questions to the Hymer organization.

Recreational vehicle industry news site RV Daily Report published a letter that it said was sent to Erwin Hymer Group North America employees on Monday.

In the letter, reportedly signed by Erwin Hymer Group chief executive officer Martin Brandt and chief financial officer Stefan Junker, the company acknowledged the investigation and Thor Industries' move to remove the local subsidiary from the pending deal.

"We are fully aware that this news generates unease and raises concerns. It is our objective to keep uncertainty as low as possible and we expect to have a full assessment of the situation in the coming weeks," the letter states.

"Please be assured that we are doing everything we can to minimize any potential impact of this situation on our customers, business partners and employees in North America.

"As we are managing this situation, the best course of action for all of us is to remain focused on maintaining the consistently high standards of service our customers and partners have come to expect."

The local manufacturer's roots date to 1974 and the founding of Home & Park Vehicles. One of its first customers, Jac Hanemaayer, purchased the business a year later, and designed many of the features that came to symbolize the Roadtrek brand.

Hanemaayer's son, Jeff, ran the business until it was acquired by American capital investment firm Industrial Opportunity Partners in 2011 in the wake of a recession that hammered the company.

When Erwin Hymer Group purchased Roadtrek almost three years ago, there were 300 employees based in Kitchener. The German parent company saw the acquisition as an opportunity to break into the North American RV market, capitalizing on Roadtrek's significant share of the camper van segment and opening the door to the introduction of European styles and construction here.

The company then expanded into Cambridge, with the notable reuse of a 255,000-square foot facility formerly occupied by BlackBerry on Reuter Drive. The Erwin Hymer Group name recently went up on another large building on Tyler Street in Cambridge, overlooking Highway 401.

By September 2017, The Record reported there were about 750 employees in the region, and that number is believed to have approached 1,000 prior to last week's layoffs.

Indiana-based Thor Industries, meanwhile, has announced that it has received all of the required regulatory approvals for its purchase of Erwin Hymer Group, minus the North American subsidiary. Thor expects the deal will close in the financial quarter ending April 30.

In its release, Thor Industries suggested that the exclusion of the North American operation won't have a significant impact on its plans.

"The combination of Thor and EHG will create the world's largest RV manufacturer, with leading positions in both North America and Europe. EHG's European operations, which represent the vast majority and core of EHG's operations, were and are the driving strategic rationale for the acquisition."
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#7
https://www.promobil.de/thor-und-hymer-u...-gefallen/
What happened?

In January, Hymer had confirmed fake sales and employee numbers of managers of the North American subsidiary Roadtrek. As the American motorhome magazine RV Today reported, at least 1700 bills worth 90 million euros have been manipulated - with the consent of the top. External auditors are currently investigating the case. Top executives of the subsidiary such as chief executive Jim Hammill or CFO Mark Weigl had to go already.
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#8
http://www.rvnews.com/article.php?id=9103
Thor Completes Erwin Hymer Acquisition

Fri Feb 1, 2019
Thor Industries Inc. has completed its acquisition of Erwin Hymer Group (EHG), one of Europe's largest makers of recreational vehicles effective Feb. 1. The combination of Thor and EHG creates the world's largest RV manufacturer, with leading positions in both North America and Europe.

The acquisition excludes EHG's North American businesses, and reflects a $194 million purchase price reduction and an approximately $205 million reduction in the obligations the company would have otherwise assumed under the terms of the original stock purchase agreement.
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