Polaris Industries Inc. has agreed to sell part of the manufacturing operations it plans to close in Osceola, Wis., to a Wisconsin firm, a development that could save the jobs of some of the facility's 515-person workforce.
Kapco Inc., a metal fabrication and stamping company based in Grafton, plans to close on its purchase of the metal stamping assets at the Polaris plant in March, Kapco spokesman Neil Willenson said Monday. Terms were not disclosed.
Polaris announced last May it would close the Osceola plant beginning this year and complete the shutdown in 2012. The company recently announced that it would begin laying off employees in March.
The closing is part of a reorganization of manufacturing operations by the Medina-based recreational vehicle maker that also includes the opening of a new Polaris plant this year in Monterrey, Mexico.
Willenson said the acquisition basically consists of equipment at the Osceola plant. Kapco will lease 60,000 of the 200,000-square-foot building. The company, which already employs about 260 people, expects to hire at least 50 workers in Osceola.
Polaris workers aren't guaranteed they'll get the jobs, but Willenson said it's very likely many of those hired will be from Polaris since they already have experience operating the plant's metal stamping equipment.
Under terms of the deal, Kapco, a private company founded in 1972, will become a Polaris supplier of parts for snowmobiles, motorcycles and all-terrain vehicles. The two companies have signed a three-year supply agreement, Willenson said.
Susan Feyder • 612-673-1723
