Economic Impact on Manufacturers of Towing Equipment

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Miller Industries (MLR) seems to be somewhat of a stand out company to me. They’ve had decent growth, seem to keep debt levels in check and provide a service not easily copied. What I’m not sure of is what the current economic impact will be on their business. They’re in the wrecker business as in manufacturing towing equipment and vehicles, some pretty large ones at that and selling via distributor Chanel’s. I’m not so sure a downturn would adversely affect their business. There may be fewer cars on the road but the cars on the road may be of lessor quality… And the larger stuff Millers products can handle seem to be rolling down 90/94 as heavy as ever. Any thoughts are much appreciated.

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