News Releases for May 2007
May 30, 2007
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Hoeven, Bobcat CEO Meet On Company Sale
BISMARCK, N.D. – Gov. John Hoeven Tuesday met with Bobcat CEO and President Richard Pedtke and senior company officials to discuss Bobcat’s future in North Dakota. Hoeven and Pedtke keep in touch regularly and the governor requested the meeting following an announcement by Ingersoll-Rand, Bobcat’s parent company, that it would spin off or sell the business.
Hoeven emphasized the importance of the native North Dakota company to the state and asked that Bobcat Co. officials keep workers informed of the progress of the sale. Pedtke said he was personally conducting meetings with employees on all three shifts in both Gwinner and Bismarck as well as at the Fargo world headquarters to keep them updated on developments.
“Bobcat is a quality company, with a world-class workforce and a world-class product,” Hoeven said. “We’ve been working with them, and will continue to work with them, to maintain a strong presence in North Dakota.”
“We’ve been through this process before,” Pedtke said. “Bobcat has been a stand-alone business as well as a subsidiary of several larger corporations over its 49 year history. There is substantial interest in acquiring the company, and the prospect for success in this transition is promising. The company's investments in global excellence will enable continued expansion of its leadership position in the compact equipment industry under a new owner.”
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