The Toro Co. Expands Headquarters
Oct 29, 2013
The Toro Co. (NYSE: TTC), a leading worldwide provider of turf, landscape, rental and construction equipment, and irrigation and outdoor lighting solutions, recently broke ground on a $25 million expansion in Bloomington, Minn., that the company has called home for more than 50 years. The project begins the process of expanding the company’s product development and test capacities, demonstrating its continued commitment to innovation.
In 2012, The Toro Co. acquired from Astec Underground its lines of directional drills, riding trenchers and other utility products, moving production to its Bloomington facility in 2013.
“We are investing in our Bloomington facility to enable our businesses to continue to meet the needs of our customers,” said Toro chairman and CEO Michael J. Hoffman. “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-sq ft expansion is scheduled for completion in the summer of 2014. Toro moved to its Bloomington 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.