Todd Teske, the former chairman and CEO of Briggs & Stratton, has filed an $11.6 million claim in the bankruptcy case seeking his share of payments that are likely to be in the range of 7-8 cents on the dollar
Was the Briggs board a mutual protection society for its top executives and, frankly, its members? Or did the board, through no fault of its own, encounter impossible obstacles and have no choice but bankruptcy?
Under the terms of the agreement, an affiliate of KPS formed for purposes of this transaction has agreed to acquire substantially all of the Company's assets and assume certain customer, employee and vendor liabilities, and it would act as the stalking-horse bidder through a court-supervised sale process.
The company plans to consolidate production of its small vertical-shaft engines into its Poplar Bluff, Mo., facility. This consolidation will result in the closure of the company's Murray, Ky., facility by the fall of 2020.
Todd Teske, Chairman, President & CEO of Briggs & Stratton, explains InfoHub, the
company's web-based fleet management software solution for commercial cutting
professionals, designed to drive efficiency, accountability and profitability.
Todd Teske, Briggs & Stratton's chairman, president and CEO, comments on the near-term economic forecast and growth in the commercial and residential markets.
Company reports 15% growth in sales on both storm-related benefit and continued strength in commercial engines and products. Briggs & Stratton will hold its first Investor Day on Nov. 1 in New York City.
Yanmar America is the North American headquarters of Yanmar Holdings. Ranked #1 in Product
Quality for five years in a row by the Equipment Dealers Association, Yanmar provides innovative
solutions for Rural Lifestyle and Industrial Equipment customers.
Yanmar was the world’s first manufacturer to develop a practical small diesel engine in 1933 and
has continued to push the boundaries of innovation and technology ever since. As a manufacturer of
diesel engines, compact tractors and utility task vehicles, construction machinery, and industrial
equipment, Yanmar's products are sold in over 130 countries.
At Yanmar America, we are committed to providing our customers with the highest quality products
and services, backed by a strong team of professionals who share our dedication to excellence. We
look forward to the opportunity to work with you in achieving your goals.
Virginia Beach-based STIHL Inc., produces a full line of high-quality, handheld outdoor power equipment including blowers, trimmers, brushcutters, and multi-task tools, as well as the number one selling brand of chainsaws worldwide. STIHL Inc. manufactures over 260 model variations of handheld outdoor power equipment for sale in the U.S. and around the world.