Local company news

  • Article by: Wire services
  • Updated: February 20, 2013 - 6:55 PM

NEW BUSINESS

Arctic Cat Inc., Plymouth, has entered into an engine supply agreement with Yamaha Motor Corp., expanding Arctic Cat’s purchase of Yamaha snowmobile engines starting in the 2014 model year. Arctic Cat initially agreed to purchase Yamaha 123cc four-stroke engines for its youth snowmobile in 2009. The agreement has now been expanded to include certain other four-stroke engines.

DEBT AND EQUITIES

Xcel Energy Inc., Minneapolis, declared a quarterly dividend of 27 cents per common share, payable April 20 to shareholders of record on March 21.

PERSONNEL

Biofuel Energy Corp., Denver, an ethanol production company, said that it has reduced staffing at its Fairmont, Minn., ethanol facility, resulting in the elimination of about 40 full-time positions. The plant, which ceased ethanol production in September, will operate its grain storage facility with its remaining employees. The company now expects the Fairmont plant to remain idle until this year’s harvest season.

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