Corning Feeds Data Centers and Ford Hints at Defense Projects: So That Happened

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RV Giants LCI Industries and Patrick Industries Agree Not to Merge 

They’re both major suppliers to the recreational vehicle world and both headquartered in Elkhart, Indiana, the global epicenter of the RV world in the northern part of the state, right across the line from Michigan. 

But apparently, that wasn’t enough to get the two companies to a yes. After less than a month of discussing ways that the two components suppliers to the grown-up outdoor playthings industry could work together, talks ended without a deal this week. 

Patrick CEO Andy Nemeth said, “Throughout this process we have been unwavering on the delivery of value in alignment with our strategic plan and vision. We are steadfast in our commitment to our independent brand-fronted foundation and customer partnerships in alignment with our business model.” 

About that brand-fronted business model he mentioned, that’s another similarity that the companies shared. Patrick has 100 brands in its portfolio, ranging from AIA Countertops (quartz counters for RVs or non-mobile homes) to Xtreme Tower Products (XTP) (towers for boats: arches or second-story attachments to provide shade or extra seating space). 

LCI Industries has 25 individual brands ranging from Aries (bike racks and other accessories for Jeep and other SUV brands) to Trend Marine (glass doors and windows for high-end boats).  

The two even have similar balance sheets. In 2025, Patrick had $135 million in net income from $3.95 billion in sales while. LCI had $188 million in net income on $4.1 billion in sales.  

The companies didn’t share why the potential merger won’t advance. Patrick announced on April 17 that talks had begun but said at the time it wouldn’t discuss the potential combination. 

— Robert Schoenberger 

The Return of the Arsenal of Democracy? 

A quick comment from Ford Motor Co. President and CEO Jim Farley about the auto giant’s role in “safeguarding our country’s industrial base—and that’s just not economic vitality; it’s also national security as a country” led to an interesting moment on Ford’s first-quarter earnings call April 29. 

Deutsche Bank analyst Xin Yu picked up on the “national security” part of what Farley said and asked “how sensible or how realistic” it might be for Ford to muscle its way into the Pentagon’s supply chain. Farley delivered a two-part answer, with the second focused on the role Ford can play, as an anchor customer, in beefing up supply chains for critical minerals and other raw materials as well as semiconductors and batteries. 

The first part of the answer—which came after Farley called back to Ford’s role in World War II’s Arsenal of Democracy as well as its manufacture of ventilators during COVID—was notably concise: “We are in early discussions with the U.S. government on some defense-related projects. We’re not going to go into details of those today.” 

Sure sounds like a potential target for investors, suppliers and employees to track. 

— Geert De Lombaerde

Honeywell Continues Its Streamlining Shuffle 

Honeywell recently announced the sale of two of its business units, Productivity Solutions and Services (PSS) and Warehouse and Workflow Solutions (WWS), both of which are expected to be completed in the second half of 2026. The divestitures are happening alongside the company’s plan to spin off its aerospace business, which was announced in February 2025. 

Honeywell announced on April 20 that it would sell its PSS business, which sells barcode scanners, mobile computers, printers and other logistics products, to Brady Corporation in a $1.4 billion transaction. Brady makes identification products such as labels, printers, signs and barcode equipment for industrial environments. 

"With the PSS divestiture, we are nearing completion of our multi-year portfolio transformation, further accelerating value creation as we prepare to separate our aerospace and automation businesses into two independent industry-leading public companies,” said Honeywell Chairman and CEO Vimal Kapur. “The sale also enables us to continue strengthening our financial and operational focus on the company's core businesses.” 

Just days later, the company announced it would sell its WWS business to private equity firm American Industrial Partners. WWS operates under the Intelligrated and Transnorm brands, and sells sortation systems, palletizers, conveyors and other material handling and automation products. 

"This quarter, we took the final steps to conclude our multi-year portfolio transformation with our announcements to sell Productivity Solutions and Services and Warehouse and Workflow Solutions,” said Kapur. “All of the acquisitions, divestitures, spin-offs and simplification efforts over the last several years have positioned both aerospace and automation for bright futures as independent, leading companies.” 

— Anna Smith

Corning to Build Three New Fiber Optic Plants to Feed Data Center Growth 

Copper is apparently too slow for the data needs of AI-driven data centers. So, glass technology pioneer Corning plans to boost capacity by a factor of 10 to make optical cables, a feat that will require three new plants and 3,000 workers in Texas and North Carolina. 

“AI is not just a technology story. It is a manufacturing story, and it is happening here in the United States,” Corning President, Chairman and CEO Wendell P. Weeks said.  

The expansion comes out of an agreement with chip designer NVIDIA to fuel that company’s need for more computing power for AI, using NVIDIA’s graphics processing units. Those chips, connected via optical cables from Corning, will power hyperscale data centers, the companies said in a statement. 

Jensen Huang, founder and CEO of NVIDIA, said, “AI is driving the largest infrastructure buildout of our time – and a once-in-a-generation opportunity to reinvigorate American manufacturing and supply chains.” 

The ongoing data center boom has kicked off a manufacturing boom with every major maker of electrical switchgear expanding to provide power systems for data centers. Though data centers require very little heavy lifting, the hydraulics industry has gotten in on the expansion as fluid-based circulation systems have become popular to manage the heat buildup in data centers. 

— Robert Schoenberger 

Leadership Changes at Pella, Owens Corning and Lockheed Martin

Changes are underway on the top rungs of the corporate ladder at Pella, Owens Corning and Lockheed Martin. Here’s a quick thumbnail sketch of the leadership changes:

Pella Corp. announced May 6 the appointment of Emily Videtto as the manufacturer’s next president and CEO, effective July 1, 2026. Videtto currently serves as the Pella, Iowa, window and door maker’s president and COO, and has been with the company for nearly a decade.

She will take the helm from Tim Yaggi upon the CEO’s planned retirement.

In Toledo, Todd Fister is taking on an expanded role at building products maker Owens Corning. Having served as the manufacturer’s executive vice president and CFO since 2023, Fister was promoted in early May to chief financial and operating officer, while retaining his EVP position. He will maintain the combined CFO and COO roles while the company conducts a search for a chief financial officer, Owens Corning said.

And in Bethesda, Maryland, defense contractor Lockheed Martin Corp. announced that Orlando Sanchez Jr. will become president of the company’s $30 billion aeronautics business effective June 1 following the retirement of President Greg Ulmer. Ulmer has been with Lockheed Martin for more than 30 years.

Sanchez has been with Lockheed Martin for more than a decade, most recently leading the company’s Skunk Works innovation and development program.

— Jill Jusko