After more than two years of negotiations, Dick Tegtmeier has sold his company, Encore Manufacturing, to WorldLawn Power Equipment, a Chinese company with an operation in City of Industry, CA. The sale was reportedly for $1.3 million.
Tegtmeier was reportedly adamant that the Encore manufacturing plant in Beatrice, NE, be kept open. All Encore employees have currently been sent home, but are expected to be hired back by Worldlawn once operations resume, resulting in roughly 40 new jobs at the Beatrice plant.
Early indications suggest that Worldlawn will maintain the Encore brand name, although no definite plans have been made public. There are reportedly at least 10 distributors of Worldlawn Power Equipment, four of whom had distributed Encore equipment at one time or another. There is also a strong base of Worldlawn dealers already established in the U.S.
For the story in Beatrice local media, Click Here.
Check back for updates as details continue to emerge.
