The Toro Company Expands Headquarters Furthering Its Investments in Innovation and Supporting Future Growth
BLOOMINGTON, Minn.--(BUSINESS WIRE)-- The Toro Company (NYS: TTC) , a leading worldwide provider of turf, landscape, rental and construction equipment, and irrigation and outdoor lighting solutions, broke ground today on a $25 million expansion in Bloomington, Minnesota that the company has called home for over 50 years. The project begins the process of expanding the company's product development and test capacities, demonstrating its continued commitment to innovation.
"We are investing in our Bloomington facility to enable our businesses to continue to meet the needs of our customers," said Michael J. Hoffman, Toro's chairman and chief executive officer. "With the anticipated growth of our businesses, through ongoing product development and the addition of recent acquisitions taking us into new markets, this investment will help to expand our technical capacity and further the innovation our customers expect. As we celebrate our Centennial next year, this project will help position us for the future and reinforce our commitment to innovation, our customers, and our employees."
The 75,000-square foot expansion is scheduled for completion in the summer of 2014. Toro moved to its Bloomington, MN, location in 1952, opening a research and development facility, and later its headquarters in 1962. The last major addition to the facility came in 1997.
The construction effort is being led by Minneapolis-based Ryan Companies US, Inc. and LEO A DALY LLP is the architect on the project.
About The Toro Company
The Toro Company (NYS: TTC) is a leading worldwide provider of innovative turf, landscape, rental and construction equipment, and irrigation and outdoor lighting solutions. With sales of more than $1.9 billion in fiscal 2012, Toro's global presence extends to more than 90 countries through strong relationships built on integrity and trust, constant innovation, and a commitment to helping customers enrich the beauty, productivity and sustainability of the land. Since 1914, the company has built a tradition of excellence around a number of strong brands to help customers care for golf courses, sports fields, public green spaces, commercial and residential properties, and agricultural fields. More information is available at www.toro.com.
The Toro Company
Amy Dahl, 952-887-8917
Managing Director, Corporate Communications and Investor Relations
Branden Happel, 952-887-8930
Senior Manager, Public Relations
KEYWORDS: United States North America Minnesota
The article The Toro Company Expands Headquarters Furthering Its Investments in Innovation and Supporting Future Growth originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.