Briggs & Stratton issued a press release updating the public on the status of the company after filing for Chapter 11 bankruptcy in July. Below is the statement.
MILWAUKEE – After emerging from Chapter 11 restructuring as a new company with a new owner and a new CEO, Briggs & Stratton, a company with a 113-year legacy, also has a new beginning.
Steve Andrews assumed the position of Briggs & Stratton’s President and CEO just over a month ago after most recently serving as CEO of International Equipment Solutions, LLC. While still new to the role, he reflects on early observations and reinforces a strong, promising future for Briggs & Stratton.
We’re seeing a comeback.
It’s no secret that Briggs & Stratton has had significant hurdles to overcome as of late - but that’s changing. “Many of the external challenges that seemed to hit the company all at once are starting to stabilize: weather is in our favor; the stay-at-home environment has positively impacted our business … and, we’re now a well-capitalized company, unencumbered by past liabilities, so we can focus on growth,” says Andrews. “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.”
We’re innovative providers – and appliers – of power.
Briggs & Stratton’s legendary past enables the company to understand power in a way nobody else in the industry can. “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,” says Andrews.
Within the outdoor power space, Briggs & Stratton’s team of forward-thinking innovators continues to develop ways to better support its customers with residential and commercial engines as well as end products and other technologies that improve lives by making tough work easier, safer and more efficient. The innovation heritage will continue.
Andrews affirms, “Innovation and new products will be a key focus going forward, so stay tuned for a lot more from us.”
We’re focused on growing commercial.
Briggs & Stratton remains the world’s largest producer of gasoline engines for outdoor power equipment, but its portfolio of brands and products showcases so much more. Andrews says, “While residential engines and products remain a core part of what we do, we will continue to strategically focus our offerings to include commercial engines and products, lithium-ion batteries and other systems and products that will help make our commercial customers more productive and profitable.” The growth opportunity here is significant.
We’re not going anywhere.
Briggs & Stratton has deep roots in the Milwaukee community and that will not change. Andrews confirms, “The Milwaukee community – and all of the communities within which we currently operate – has been good to us and we will remain a strong community partner that stands behind its products and supports its customers, for many years to come.”
We’re hiring.
The Company has more than 100 salary and hourly positions available in Milwaukee and hundreds more throughout the U.S. and globally. According to Andrews, “Now is an exciting time to join Briggs & Stratton and be part of a new beginning. Many opportunities are available to be a part of an iconic company with a renewed focus on innovation, new products, quick action and growth. I’m impressed with the talented team of employees at Briggs & Stratton and look forward to growing that team to support what will again be a very successful business.”
To learn more about Briggs & Stratton and its family of brands, visit www.basco.com. If you’re interested in joining the Briggs & Stratton team, visit careers.basco.com for available opportunities and to apply.
