Harley-Davidson just posted on its media website that because the new labor agreements were ratified yesterday by its union members, and as promised at negotiation time, the Powertrain operations and the Tomahawk manufacturing will remain in Wisconsin.
The official press release states that 1- Combined full-time, hourly workforce size in Milwaukee and Tomahawk locations will be reduced by approximately 325. 2- Approximately $85 million additional restructuring charges expected (of which 65% or $55 million will be cash charges) through 2012. 3- Approximately $50 million in annual savings expected beginning in 2013. 4- No additional capital expenditures required.” Year-to-date, Harley-Davidson stock (HOG) is up 8.41%.