Miller Industries (MLR) investor relations material

Company overview and operations

• Founded in 1990, operates six manufacturing facilities across the U.S. and Europe, employing about 1,500 people worldwide.

• Manufactures a full range of towing and recovery equipment under brands like Century, Vulcan, Chevron, Holmes, Boniface, Jige, and Omars.

• Focuses on innovation in weight capacity, safety, and rapid prototyping, with proprietary accessories and vertical integration.

• Distribution network includes 53 U.S. distributor principals with 75 locations, all exclusive, and 30+ global distributors.

• Majority of revenue (about 90%) comes from North America, with strong export and European operations.

Market segments and industry drivers

• Serves commercial towing, transportation fleets, government, municipal, and military markets.

• Industry growth driven by miles driven, aging vehicle fleets, last-mile delivery, infrastructure, and natural disasters.

• Rental industry and military contracts are key growth opportunities, with increasing RFQs post-COVID and global conflicts.

• European market expansion includes an €8 million investment to double heavy-duty chassis integration in France.

Manufacturing, labor, and innovation

• Manufacturing process integrates skilled labor and robotics, with in-house weld academy training about 48 welders annually.

• Robotics are used for repetitive tasks, while skilled labor focuses on assembly and complex welding.

• Facilities are climate-controlled, with a four-day on, four-day off schedule to enhance work-life balance.

• U.S. operations are non-union; France operates under national union norms.