Toro to Stop Making Mowers in Riverside
Toro Co., the biggest U.S. maker of lawnmowers, said it will sell a Riverside plant after eliminating 440 jobs, and moving manufacturing operations to El Paso.
The move will cost $6.4 million to $6.9 million in fiscal 2002 and generate annual savings of $7 million to $7.5 million, starting in fiscal 2003, the company said.
For the record:
12:00 a.m. Dec. 8, 2001 FOR THE RECORD
Los Angeles Times Saturday December 8, 2001 Home Edition Part A Part A Page 2 A2 Desk 1 inches; 30 words Type of Material: Correction
Toro Co. facility--A headline in Friday’s Business incorrectly stated that Toro Co. makes lawn mowers in Riverside. Its facility there, which will be closed, makes irrigation systems for golf courses and grounds.
Shares of Bloomington, Minn.-based Toro rose 1 cent to $46 on the New York Stock Exchange.
