After negotiations with the Indiana Economic Development Corporation, trailer industry vets Matt Arnold and Jeff Troyer plan to open Formula Trailers, a new cargo trailer manufacturer with a 110,000-square-foot facility in Bristol IN.
The company expected to hire 45 employees to begin production in July, with plans to hire 80 full-time employees over the next year.
Formula initially will produce cargo trailers and auto haulers in both steel and aluminum, but it ultimately intends to build a full line of trailers, including motorcycle, snowmobile and high-end race trailers, by the end of the year.
“Formula Trailers was started to fulfill a need for a new cargo trailer and race trailer offering not currently produced by our competitors,” said Troyer, president of Formula Trailers. “Competitors build what they want instead of what the customer wants and the market is signaling they won’t pay more for less value. There is a need for additional capacity to fill that void and focus on customers, providing competitive lead times.
“In an industry where dealer input is vital, I’m looking forward to re-establishing old relationships and making new ones.”
Troyer is a 27-year trailer industry veteran with experience from both the OEM and supplier sides. He began his career at Haulmark as a warranty manager, working with Arnold’s father, and eventually grew with the company into the role of vice president of sales and marketing, which he filled for 15 years.
Troyer and a business partner then purchased an aluminum and steel fabrication company serving the cargo and horse trailer industries. After they sold that business in 2016, Troyer pursued his vision of building a quality product and creating strong dealer partnerships by teaming up with Arnold to open Formula.