I guess Briggs is going to stay in business
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Topic: I guess Briggs is going to stay in business
Posted By: JohnColo
Subject: I guess Briggs is going to stay in business
Date Posted: 16 Nov 2020 at 12:31am
‘New beginning’ for Briggs & StrattonBy Thomas Allen29 October 2020
Steve Andrews, the new President and CEO of Briggs & Stratton, has described the bankruptcy and acquisition of the company by KPS Capital Partners as a ‘new beginning’.
Steve Andrews, President and CEO of Briggs & Stratton Having been in his new role for a month, Andrews said, “Many of the external challenges that seemed to hit the company all at once are starting to stabilise.” Andrews’ previous industry experience includes serving as CEO of International Equipment Solutions (IES) and President of Pettibone. He added, “Weather is in our favour. The stay-at-home environment has positively impacted our business… and we’re now a well-capitalised company, unencumbered by past liabilities, so we can focus on growth. “In the first three months of our fiscal year, nearly all parts of our business globally are performing stronger than last year. In fact, this is a better start than we’ve seen in a number of years.” Commenting on the US-based engine and equipment manufacturer’s move into electrification technology, he said, “I’m really impressed with our Vanguard Lithium-Ion Commercial Battery System. It’s an example of using our power application expertise to quickly expand into new markets with an innovation that remains unmatched – and has exponential growth potential.” He added that innovation and new products would be a key focus going forwards. |
Replies:
Posted By: DMiller
Date Posted: 16 Nov 2020 at 6:48am
| So old products will become discontinued and parts of Unobtanium so HAVE to buy New and Improved Innovative. |
Posted By: Kansas99
Date Posted: 16 Nov 2020 at 7:40am
So what's this vanguard battery, we all going to have to replace are briggs with rechargeable briggs.  ------------- "Thank you for your service Joe & the Ho"-----Joseph Stalin |
Posted By: jaybmiller
Date Posted: 16 Nov 2020 at 7:44am
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re:
So old products will become discontinued and parts of Unobtanium so HAVE to buy New and Improved Innovative. That's the way 'the World works'.... NO business can make just one run of one product, they'd go belly up after that......all about marketing to get SALES..... there's NO need for a PS56 or Ifone23 or a 100K$ 4 door,4wd, pickup.... ------------- 3 D-14s,A-C forklift, B-112 Kubota BX23S lil' TOOT( The Other Orange Tractor) Never burn your bridges, unless you can walk on water |
Posted By: Coke-in-MN
Date Posted: 16 Nov 2020 at 2:06pm
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Briggs seems to have swallowed up much debt from the customers it supplied over the years as they were unable to meet their bills to the point Briggs ended up taking over their businesses . So this caught up with Briggs also in the downturn of world marker as Honda, Kawasaki and others entered the small engine market for consumer goods . Now small engines cost almost as much as what we use to pay for a fully rebuilt car engine or in some cases more , A 18HP Honda V-twin I replaced a 16HP single cylinder Kohler was cheaper than what i could find a Kohler for but still over $1200. Times have changed and a 3 HP push lawn mower has been replaced with a riding mower of 12 HP or more or a self propelled 8HP unit with special clutch brake so you can't stick your hand under deck to see if blade it turning . ------------- Life lesson: If you’re being chased by a lion, you’re on a horse, to the left of you is a giraffe and on the right is a unicorn, what do you do? You stop drinking and get off the carousel. |