Bush Hog still exploring options
Published 10:08 pm Monday, January 12, 2009
The owners of Bush Hog are deciding the next move for the company, including making the company more attractive for potential buyers.
CC Industries Inc. released a statement Monday saying the company is considering several options to determine the future of Selma-based Bush Hog. CCI is “in the process of hiring financial advisors who will assist in this effort, which may include a sale of the business,” the statement said.
Among other actions it could take, CCI will reduce “the amount of working capital currently invested in the business.”
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David Middlebrooks, Bush Hog director of human resources, said earlier the current economic downturn forced the company to make adjustments.
Local executives held an informative meeting with employees Friday, but they declined to discuss the meeting’s details.
Bush Hog announced last week its factories in Selma and Telford, Tenn., had shut down production temporarily until the company could adjust inventory with demand.
Workers in Selma were also given letters last week with a phone number to call on Jan. 15 to check about their status.
Bush Hog has designed, manufactured, distributed and serviced rotary cutters and other agricultural implements and equipment for more than 50 years. The company’s product line includes rotary cutters, finishing mowers, zero turn mowers, front-end loaders, backhoes, utility vehicles, landscape equipment and a wide variety of other implements.
The company employs about 600 workers, uses about 700,000 square feet of manufacturing space and exceeds $100 million in sales annually, according to the Selma-Dallas County Chamber of Commerce’s Web site.