Surviving a rough beginning, the entire operation was purchased by five Midwesterners, with Hanson serving as president. In 1960 the name of the company was changed to Winnebago Industries. To improve quality, Winnebago Industries manufactured furniture and other components designed specifically for its travel trailers. One such innovation was the "Thermo-Panel," which was a strong, lightweight sidewall that was a characteristic of Winnebago products.