Generac Holdings Inc. : Generac Announces $8-10 Million Commitment for Corporate Headquarters Remodel and Expansion
02/07/2012| 10:30am US/Eastern
Strategic investments made to build on company's unprecedented
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
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
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
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/.
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for Generac Power Systems, Inc.
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