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KITCHENER, Ontario — A letter sent to employees at Erwin Hymer Group North America today sought to ease concerns workers may have about the future of the company, especially following the announcement that the group would be excluded from a pending acquisition deal with Thor Industries.
However, the letter was short on specific information and noted that it could take weeks before employees could receive a full assessment of the situation.
It stated that Robert Quine and Thomas Martin were appointed to oversee daily operations at Erwin Hymer Group North America pending an investigation related to a “zero tolerance policy.” Quine and Martin’s specific roles and titles were not identified.
The letter was signed by Martin Brandt, the CEO of Erwin Hymer Group, and Stefan Junker, the chief financial officer of Erwin Hymer Group.
Erwin Hymer Group is the parent company of Erwin Hymer Group North America, which makes and sells recreation vehicles under the Roadtrek and Aktiv brands.
Here is the text of that letter:
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 have been suspended pending the outcome of the investigation.
As an immediate measure we assigned Robert Quine and Thomas Martin to support the ongoing operations of EHG NA and the external investigation.
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 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. We will inform you on further developments.
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.
CEO Erwin Hymer Group
CFO Erwin Hymer Group