Kinro Manufacturing Inc history

Also in 1968, it acquired Irvins Inc., a Baltimore department store chain, and Public Furniture Sales Corporation, a New York City retailer of warehouse furniture.

Drew National had net income of $884,000 on net sales of $24.7 million in fiscal 1970.

Drew National sold its stake in this subsidiary in 1971.

By the end of fiscal 1975 the company had rid itself of all such property except the Beverly Hills office building, an Anaheim restaurant and motel, and three mortgages.

The sale of the company's leasehold interest in the Beverly Hills building in November 1976 put it out of the real estate business.

In 1979 Bass Brothers Enterprises Inc. purchased 73 percent of the outstanding stock for $1.35 million, or ten cents a share.

Beginning in 1982, Kinro acquired additional manufacturers of aluminum windows for manufactured homes and also developed a capacity to manufacture screens for its window products and, to a lesser extent, windows for minibuses.

Drew National was half-owned by Bass Brothers in early 1983, when it formed a subsidiary as part of a joint venture with Pratt Hotel Corporation, which had a majority stake in a company owning and operating the Sands Hotel & Casino in Atlantic City, New Jersey.

It also liquidated Horsman Dolls and, in April 1987, sold Sandberg for $1.3 million.

Leslie-Locke, now the home improvements division, had an even higher sales level, but was not pulling its weight; in fiscal 1989, it actually lost money.

In 1992, Drew had its best year yet, attaining record net income of $3.8 million on record revenues of $109.6 million.

But the home-products segment produced only eight percent of company income in 1993 despite accounting for 49 percent of sales.