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8 JULY 2015 OUTDOOR POWER EQUIPMENT www.outdoorpowerequipment.com INDUSTRY NEWS Kubota relocating headquarters to Texas Kubota Tractor Corporation (KTC) of Torrance, Calif., and Kubota Credit Corporation (KCC) of Torrance, Calif., and Ft. Worth, Texas, announced May 14 that they will relocate their headquar- ters from Torrance, Calif., to Grapevine, Texas. Both companies are U.S. subsid- iaries of Kubota Corporation, based in Osaka, Japan, and have been planning for increased efficiencies on the heels of recent expansions and an aggressive growth strategy. The move will affect about 180 employees and is expected to happen within the next 18 months. "This restructuring and relocation to Texas aligns with our strategic business objectives to strengthen Kubota's brand in the U.S. marketplace, enter new industry segments, and to position our company for long-term, sustainable growth in North America," stated Masato Yoshikawa, pres- ident & CEO of KTC. "This is the most significant change we have undertaken during our long and successful history in the U.S., and there was much thought, deliberation and consideration that went into our decision. California has been good to us, but it makes better business sense for us to be centrally located, and we look forward to achieving added opera- tional efficiencies with this move." The move of Kubota's entire Torrance corporate headquarters to Texas will put Kubota's leadership and professional staff closer to Kubota's major markets and its manufacturing, assembly and distri- bution facilities in Georgia and Kansas. By centrally locating more of its opera- tions, Kubota will be able to respond more quickly to changes in markets and the industry, and streamline its operations for both dealer and customer benefit. The new headquarters will be an environmentally- friendly, state-of-the-art building large enough to initially accommodate 400 employees with room to expand, and will be designed to maximize work efficiencies and conserve resources in alignment with Kubota's global brand statement, "For Earth, For Life." The move will be conducted in stag- es to avoid disruption to Kubota's daily operations. Kubota's finance business, Kubota Credit Corporation, will move from its current locations in Torrance and Ft. Worth to the new facility. "This move does not affect the majority of our employees located at our divisional offic- es," stated Yoshikawa. The announcement was made May 14 at employee gatherings. Altogether, the move will affect approximately 180 Torrance-based employees, as well as some corporate employees who work remotely from other Kubota facilities. Kubota has offered all affected employ- ees the option to relocate to Grapevine and will offer relocation assistance to those affected employees in California and Georgia who elect to move to Texas. Those electing not to relocate will be offered a severance incentive package to stay on with Kubota during the transi- tion and to assist them with their next employment opportunity. Construction on the Texas facility will begin in 2015 and is scheduled to be completed by the first quarter of 2017. HOT NEWS Briggs & Stratton acquires Billy Goat Briggs & Stratton Corporation announced on May 20 that it acquired Billy Goat Industries, Inc. Incorporated in 1969 and based in Lee's Summit, Mo., Billy Goat is a leading manufacturer of specialty turf equipment, which includes aerators, sod cutters, overseeders, power rakes, brush cutters, walk-behind blowers, lawn vacuums, and debris loaders. Billy Goat has annual net sales of approximately $30 million. Briggs & Stratton has acquired all of the outstanding shares of Billy Goat for approximately $26 million in cash, subject to customary post-closing working capital adjustments. The transaction was effective immediately. "Billy Goat's products complement Briggs & Stratton's already-strong commercial turf brands, add specialty lines with market-leading innovation, and further increase Briggs' market access to the rental channel," said Harold L. Redman, sr. vice- president and president, turf and consumer products at Briggs & Stratton Corporation. "Billy Goat Industries, Inc. helps us to further our strategic initiative of focusing on higher-margin commercial products," commented Todd J. Teske, chairman, president and chief executive officer of Briggs & Stratton Corporation. "We welcome the management team and the employees of Billy Goat to our team, and look forward to building upon the strong foundation that has made them a strong and successful company." "We are delighted to be joining Briggs & Stratton's 107- year legacy of success," said Will Coates, president and CEO of Billy Goat Industries. "It was clear to my brother, Drew, and me that partnering with Briggs & Stratton gives us the best opportunity to continue with the Billy Goat brand that we care for so deeply and to focus on what this company does well. We truly believe that Billy Goat's colleagues, customers and employees will benefit from wider access to Briggs & Stratton's global resources inclusive of leading engine innovation, research and development, international operations, and adjacent products that serve to accelerate the growth of the brand worldwide."