Generac Announces $8-10 Million Commitment for Corporate Headquarters Remodel and Expansion
February 07 2012 - 10:28AM
Business Wire
Generac Power Systems Inc., a leading manufacturer of backup
power generation equipment, announced it will commit $5-6 million
to expanding and remodeling its headquarters and an additional $3-4
million in upgrades to create a technical center. The $8-10 million
total investment will result in more jobs, more innovation and more
technology for Generac, the manufacturing sector and the state of
Wisconsin.
“The expansion of our headquarters isn’t just a major investment
in our community, it is a major step in meeting the power
generation and equipment demands of our customers,” Generac CEO
Aaron Jagdfeld said. “We have been growing rapidly over the last
decade and this expansion will give us the flexibility and space to
not only add to our team, but will create a space to allow the best
engineers and technicians in our field to innovate and develop
tomorrow’s technology for our industry.”
Generac currently employs more than 550 people at its
headquarters, and plans to add more than 200 new jobs over the next
three years. The expansion and remodel, funded solely by organic
growth, should be completed by the end of 2013. Looking beyond
2013, Generac has already purchased land adjacent to its Waukesha
headquarters in preparation for future expansion.
The Company’s location in western Waukesha county has been its
headquarters since it was constructed in 1967 and has been expanded
nine times during its history. The current project will convert
approximately 27,500 square feet of manufacturing space into office
space and will add approximately 3,300 square feet for a new main
entryway that will include an area detailing the history of the
Company and its products. The renovation and remodel will create a
more modern and collaborative workplace and will provide both new
office and meeting space to the existing building.
The new technical center will allow Generac to build on its
position as the innovation leader in the power generation industry.
The technical center will be a state of the art research,
development and testing facility and will include investments in
equipment for data acquisition, analysis and testing of engines,
generators and other power equipment. Specifically, new test
chambers containing highly specialized equipment for the testing of
emissions, sound, and environmentally controlled conditions will
enable Generac’s engineering team to enhance its knowledge and
competencies in these areas.
Generac currently employs more than 2,300 people across five
locations, including the recently acquired Magnum Power Products in
Berlin, Wis. and Gen-Tran Corporation in Alpharetta, Ga.
Oliver Construction, of Oconomowoc, Wis., will serve as general
contractor.
About Generac (NYSE: GNRC)
Since 1959, Generac has been a leading designer and manufacturer
of a wide range of generators and other engine powered products. As
a leader in power equipment serving residential, light commercial,
industrial and construction markets, Generac's products are
available through a broad network of independent dealers,
retailers, wholesalers and equipment rental companies. The company
markets and distributes its products primarily under its Generac
and Magnum brand names. Generac is committed to developing a
long-term vision that promotes environmentally responsible
products, processes and partnerships and strives to be a positive
contributor of sustainable growth in the power equipment industry.
For more information on Generac, please visit
http://www.Generac.com. Follow Generac on Twitter @generacpowersys.
Become a fan on Facebook at www.facebook.com/generacpowersystems.
For more information on Magnum, please visit
http://www.m-p-llc.com/.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50160122&lang=en
Generac (NYSE:GNRC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Generac (NYSE:GNRC)
Historical Stock Chart
From Jul 2023 to Jul 2024