The Toro Company (NYSE: 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 (NYSE: 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
|The Toro Company Celebrates 100 Years of Industry-Changing Innovation (2013/10/23)|
|The Toro Company Honored for Innovation at the 2013 Tekne Awards (2013/11/12)|
|Level 3 Expands Network Capacity in Latin America to Support Business Growth (2013/11/18)|
|SAP Supports Customer Growth in Emerging Markets by Combining SAP® ERP With Mobile, Analytic and Cloud Innovations (2013/8/8)|
|SEI Adds New Healthcare Director to Support Continued Growth of Investment Outsourcing Business ()|
|McDonald's Continues To Invest For Future Growth (2013/11/14)|
|Delta Faucet Company Expands Commitment to Innovation (2013/10/21)|
|Companies Prudently Invest in Innovation to Accelerate Growth While Guarding Against Labor Shortages and Supply Chain Disasters (2013/10/31)|
|Photo Release -- PRA Expands Its Headquarters to Accommodate Continued Business Growth (2013/11/12)|
|Nu Skin Builds Towards The Future With State-Of-The-Art Innovation Center At U.S. Headquarters And New Greater China Regional Headquarters And Innovation Park (2013/10/23)|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.