MILWAUKEE, Wis. (AP) -- Engine and power-equipment maker Briggs & Stratton Corp. said Wednesday it will close its Jefferson, Wis., plant that makes generators, pressure washers and other products in fiscal 2010 and shift production to its other plants to improve efficiency.
A spokeswoman for the Wauwatosa, Wis.-based company said 430 permanent employees will be laid off as a result of this plant closure. In addition, the company will take a $5.8 million charge in its fiscal fourth quarter, composed of $4.6 million for asset impairments and $1.2 million for severance and pension costs. It expects about $11 million in pretax savings from the consolidation.
The Jefferson facility's production will be consolidated into its engine and lawn and garden-product plants to optimize plant utilization, the company said in a statement.
Shares of Briggs & Stratton gained 3 cents to $13.38 in midday trading.