Husqvarna Group Appoints Alan Shaw as Head of Americas

Effective August 15, 2013, Alan Shaw has been appointed Executive Vice President, Head of business area Americas and will become member of Husqvarna Group Management.

June 19 -- Alan Shaw has more than 25 years of global experience from consumer durables including barbeque grills and accessories, lawn and garden equipment and major home  appliances.

Most recently, Alan comes from the barbeque grill and accessories company Char-Broil LLC, US, where he has been President and CEO since 2005. Between 2003 and 2005, he held the position as President and CEO of the consumer lawn and garden equipment manufacturer Murray Group, US. Between 1987 and 2003, he held numerous positions within the home appliance company Whirlpool Corporation.

Alan Shaw holds an MBA from Indiana University and a BS from the University of Idaho.

Earl Bennett, who has been Acting Head of Americas, since January 23, 2013, will resume his position as Vice President and General Counsel for Americas.

“Together with my successor Kai Wärn, I would like to welcome Alan Shaw to the Group. In Alan Shaw we have found a strong leader with a solid track record of managing brand driven businesses,” says Hans Linnarson, President and CEO of Husqvarna Group. “I would also like to thank Earl Bennett for his valuable contributions while acting as Head of Americas for the past five months.” 

Judy Altmaier Named New VP and General Manager of Exmark Manufacturing

BEATRICE, NE – June 11 – Judy Altmaier has been named vice president and general manager of Exmark Manufacturing, based in Beatrice, Neb. She succeeds Rick Olson, who recently transitioned to vice president of The Toro Co.'s International Business.

Altmaier joined The Toro Co. in 2009 from Eaton Corporation, and most recently served as vice president of operations and quality management. Her move to the Beatrice area is a homecoming of sorts, as Altmaier earned her bachelor of science in business administration from Kearney State College and an MBA from the University of Nebraska-Kearney, in Kearney, Neb.

Prior to joining Toro, Altmaier held a number of high-level positions with Eaton, including serving as vice president and general manager of the company’s Global Engine Valve Division in Turin, Italy. She also held the position of vice president and general manager of operations for Eaton’s Automotive Group Americas in Marshall, Mich.

“Judy is a seasoned, global leader with broad base experience serving a wide range of internal and external customers,” said Mike Happe, group vice president at The Toro Co. “She will lead a strong Exmark team of employees in Beatrice that’s ready to support her and continue to drive the Exmark business to higher levels of performance in the years to come. She understands our business model and will strive to outperform our customers’ expectations.”

www.lawnandlandscape.com

Ariens Company Closing Plant In Alabama

BRILLION, WI — June 6 -- Ariens Co. said today it will close its manufacturing plant in Opp., Ala.

The plant, which is about 80 miles south of Montgomery, Ala., employs 17 people, and will continue operating until July 26.

The company has operated the facility since 2006 when it acquired Locke Turf Co., a manufacturer of reel mowers and specialty turf equipment. It is located on the Kinston highway, and in Opp, personnel were tasked with manufacturing snow-blowing equipment, Opp Mayor John Bartholomew said.

Corporate officials said the closure was done. in an effort to consolidate manufacturing operations for improved efficiency. Production will run through July 26.

“This decision is not a reflection on the performance of the plant,” said Bob Bradford, senior vice president of operations. “I’d like to thank the employees for the remarkable improvements they made on their lean journey of continuous improvement which began the day we acquired the plant seven years ago. They would be an asset to any of our other manufacturing facilities and we have offered them the option to transfer.”

The company, which makes snow throwers and other power equipment, said employees will be provided severance packages and outplacement assistance.

Customers should not see an impact on product delivery, the company said.

www.postcrescent.com 

Generac Completes Amended/Restated Secured Facility

June 3 -- Generator maker Generac announced this morning it had completed the refinancing of its senior secured term loan credit facility and, as it previously promised, will use part of the proceeds to pay investors a special dividend of $5.00 per share, payable on June 21 to stockholders of record on June 12.

Generac said the refinancing resulted in it incurring $1.2 billion of senior secured term loans that replaced its prior term loan facilities. The new term loans will mature in 2020, with interest initially accruing at LIBOR plus 2.75% with a LIBOR floor of 0.75%. Moreover, beginning in the second quarter of 2014, the spread to LIBOR of the new term loans can be reduced to LIBOR plus 2.50% if its net debt leverage ratio falls below 3.0 times.

Generac also obtained a one-year extension to the maturity date of its existing $150 million senior-secured, asset-based revolving credit facility. The extended revolving credit facility will terminate in 2018, but will continue to accrue interest on drawn proceeds using an "availability-based pricing grid" starting at LIBOR plus 2%.

As previously announced, the generator maker intends to use approximately $342 million of the proceeds from the new term loans to fund a special cash dividend to its stockholders of $5.00 per share. The company does not pay a regular dividend on its common stock. The remaining funds will be used for general corporate purposes and to pay related financing fees and expenses.

As a result of the closing on the $1.2 billion of senior secured term loans, the Company is updating its guidance for interest expense for the full-year 2013. Interest expense is now expected to be in the range of $55.0 to $57.0 million, which includes $50.0 to $51.0 million of debt service costs, at current LIBOR rates, plus $5.0 to $6.0 million for deferred financing cost and original issue discount amortization. Interest expense during the third quarter of 2013, the first full quarter under the new capital structure, is expected to be approximately $13.0 million, which includes approximately $2.0 million of deferred financing costs and original issue discount amortization.

Kohler Co. Adding 300 Jobs in Southeastern Wisconsin

May 29 -- Kohler Co. will add more than 300 jobs in southeastern Wisconsin over the next three years, the company announced Wednesday morning.

The job creation is a result of an expansion of the Kohler-based company’s global power business. Kohler is a privately held company whose products include mobile and standby generators.

The company will add an extension to its production facility in the town of Mosel in Sheboygan County. The jobs will be added at company locations in Mosel and the villages of Saukville and Kohler, the company said.

“This investment reflects our commitment to provide homeowners and businesses with superior product and rapid delivery,” said Herb Kohler, chairman and CEO of Kohler Co.

Since 2011, the demand for standby power has surged with more than 5,000 power outages and more than 50 million homes and businesses affected in North America alone, Kohler Co. said.

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