Wabash National: why "trailer" is not part of its name.

SINCE 1985, SEMIS zooming along America's highways have been pulling Wabash National Corp. (NYSE: WNC) trailers made in Lafayette, and since 1995 they've included the revolutionary DuraPlate dry van. Now, the company is taking that product's technology beyond semitrailers for uses both on and off highways.

Vinyl core, steel-sided. Made of a lightweight, composite panel of high-density vinyl core with high-strength steel bonded to each side, DuraPlate trailers deliver greater mobility and strength than conventional models.

So why limit its use to semis, the Indiana company is asking this year as it takes the product on new routes, using the panels in utility trucks, portable storage units, industrial enclosures, rail products and, potentially, military uses.

"We found that DuraPlate has a whole lot of legs, and we were only looking at it from a trailer standpoint," says Jamie Scarcelli, vice president and general manager of DuraPlate Products at Wabash National.

$80 million by 2012. Launched in January, the DuraPlate Products Group expects to land $15 million to $20 million in revenues this year, $35 million next year, and $80 million by 2012.

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About 100 of the company's 2,300 Lafayette employees are already dedicated to the venture, backed by a $50 million DuraPlate facility, part of 1.5 million square feet of facility space in Lafayette.

"We spent eight months working on our NextSteps strategic plan, looking at how to grow, expand and diversify the company," Scarcelli says. "DuraPlate holds a lot of potential for a whole bunch of things."

Dedicating a core group to the line is key to success, he believes. "We've put a focused business unit around this, a lot like a startup within a larger organization. We have all the passion of a startup and the support of a billion-dollar-plus company And we're looking to grow with speed."

Billing itself as a partner and solutions provider, Wabash National is leveraging its deep experience as it seeks new markets "where we can add value," he says. "DuraPlate uses more of an art form and engineering expertise in building these panels. It's a business you can't get into overnight. We want to improve others' products by integrating into their design, or leveraging our knowledge and building their products for them. It's a great opportunity to grow, and we're starting to see great results."

Indiana stands to benefit when a homegrown company grows and diversifies, Scarcelli says. "It can bring greater attention to Indiana, hopefully new jobs, and show what companies in Indiana can do."

Over the years, many have wondered why "Trailer" was not part of the company's name. This venture away from big boxes on wheels may be the answer.

Don't count out the company's core products--semi-truck and rail trailers, though. Wabash National plans to produce 38,000 this year, including dry freight and refrigerated vans, flatbed and drop-deck trailers, and intermodal equipment. It's also looking ahead to a $25 million production facility planned near Nashville, Tenn., that would employ 460 by 2010.