HUSCO International (HUSCO), a global leader in the development and manufacture of hydraulic and electro-hydraulic controls for the off-highway and automotive industries, announces an $85 million, 3-year capital investment plan. In total, the company expects to invest $16 million to expand and modernize worldwide facilities, and $69 million in new, program-specific manufacturing equipment and tooling.
The company also announces that Austin Ramirez has completed his year of service as a White House Fellow on the National Economic Council, and has resumed his duties as Chief Executive Officer. Agustin “Gus” Ramirez, who took over as CEO while Austin was in Washington, DC, will remain Chairman of the company.
Earlier this year, HUSCO began launching a number of new programs that will start production between now and 2019. By 2020, these new programs will contribute an incremental $165 million per year to HUSCO’s global sales. The company’s $85 million capital investment plan is designed to not only support this growth, but also to modernize global facilities in preparation for additional future expansions. Total revenue for 2017 will reach a record of over $400 million, more than 10% above 2016.
“This announcement reflects HUSCO’s incredible success securing new business over the past several years, despite challenging global markets,” says Austin Ramirez. “The size and scope of these investments are unprecedented in our history and reflect our commitment to being the best employer and partner in the markets in which we compete.”
The most significant investments will occur in Waukesha, WI, where the company’s corporate headquarters is located. HUSCO will invest approximately $11 million to modernize its manufacturing facility and corporate offices. The facility will also install approximately $17 million in new advanced assembly and tooling equipment to provide customers with the highest level of quality and productivity. Global employee headcount is expected to grow by a net new 270 positions by 2020 with 160 of those located in the United States and 120 in Wisconsin. Major investments will also be made in HUSCO’s facilities in Whitewater, WI; Maquoketa, IA; Pune, India; Runcorn, England; and Shanghai, China.
Renovations to the company’s headquarters office will result in a dynamic and high-tech workplace designed to foster greater innovation, intelligent risk taking and performance. Originally built in 1954, the building will be transformed into a workplace that is desirable for today’s top talent and is aligned with the modern demands of a highly-accomplished organization.