Business: Development authority close to hiring industrial recruiter? Yanmar adding ASV Holdings Inc., a manufacturer of compact tracked loaders  and skid-steer loaders.

Business: Development authority close to hiring industrial recruiter? Yanmar adding ASV Holdings Inc., a manufacturer of compact tracked loaders  and skid-steer loaders.

 

File photo from the June 2019 meeting of the Rome Floyd Economic Development Authority at the chamber office. Hometown.

Special meeting Tuesday of the Rome Floyd County Development Authority: Director in sight? The group now in charge of industrial recruitment and development in Rome/Floyd County has called a special meeting for Tuesday morning. The assumption is this could be either the final vote on naming an industrial recruiter as part of the “Big Switch” that saw economic development removed from the Rome Floyd Chamber and eventually placed in the panel’s custody.

At the June 18 meeting, Chairman Jimmy Byars said more than 31 people had applied for the post and seven had been interviewed. He reminded the board that the goal was to hire somoene by late June. Byars also said a called meeting might be necessary soon to finalize the selection.

The development authority meetings at Tuesday, July 2, at 7:30 a.m. in the Rome Floyd Chamber boardroom, 1 Riverside Parkway. Hometown Headlines will have almost-live coverage that morning.

In addition to a recruiter, two other staffers are to form the economic development team. Heather Seckman is transferring from the chamber to the new group.

Facing a funding reminder from county officials almost a year ago, the chamber stood back as economic development duties were taken from the business group. The city, county and the development authority each are paying $150,000 a year for three years ($450,000 a year total) to create the new development staff and cover expenses. The goal is to make economic development self-sustaining from PILOT fees and other revenue after that point. However, the governments have agreed to cover short-falls after the three-year term expires, for an additional eight years.


In addition to its American headquarters in Adairsville, Yanmar in 2017 opened its $20 million EVO center on 50-plus acres in Acworth. It is a training and customer experience center.

 

Media release: Yanmar Holdings, with its American office based in Adairsvile, announces Yanmar’s entry into a definitive agreement to acquire compact equipment manufacturer ASV Holdings Inc., a designer and manufacturer of renowned compact tracked loaders  and skid-steer loaders. Yanmar is to acquire ASV through a statutory merger.

Giuliano Parodi, Executive Officer of Yanmar Holdings, said: “We believe that the Yanmar Group’s acquisition of ASV will significantly bolster Yanmar’s compact equipment offerings in the loader segment, a product range vital for success in the all-important North American market. With its highly-skilled workforce and quality CTL/SSL lineup, ASV is a great fit for both Yanmar’s focus on quality, and our growth and expansion plans in the North American and global markets as it will create a comprehensive and global provider of compact equipment with virtually no overlap in distribution networks.”

The acquisition, once finalized, will complete the Yanmar’s range of compact equipment products and contribute to Yanmar’s prospects for growth in North America and globally.

The transaction is expected to close in the third quarter of 2019, and Yanmar will acquire 100 percent of ASV’s outstanding shares of common stock for total consideration of $70.70 million, or $7.05 per share.

Also: Yanmar’s business results from fiscal year 2018 announced. Yanmar

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