Milwaukee-based specialty vehicle makers REV Group could see its international revenue match its current sales total within five years, company president and CEO Tim Sullivan told analysts last week.
This story by Arthur Thomas originally appeared in Milwaukee Business News.
REV Group launched a joint venture earlier this month in China with Chery Holding Group to manufacturer RVs, ambulances and other products for distribution in China and other international markets.
The company also recently established a 130,000-square-foot factory in Brazil to serve Latin American markets. Sullivan said that facility is profitable after six months of operation.
The decision to partner with Chery was the result of a two-year process and Sullivan said the company was chosen because it is a prominent maker of passenger vehicles in China and also exports to 80 other countries.
Analysts asked Sullivan how big the company hopes its international business could become compared to REV Group’s total revenue, which reached almost $2.27 billion in fiscal 2017. He commented that he couldn’t say just yet, but the company has done a lot of research, and he’ll have a better idea in a year.
One area the company will likely not go is into European markets. Sullivan said REV Group often is encouraged to look at Europe by others, but the area has not been consolidated and would require buying a lot of companies.
