Gehl will discontinue manufacturing and distribution of its agricultural implement product lines, ceasing operations over the next 60 days. The product line discontinuation is expected to result in an after-tax charge to the company’s earnings of $9.5 million and a reduction of 140 employees.
“Over the last 20 years, there has been a continuous consolidation occurring in the U.S. dairy industry,” said William Gehl, company chairman and chief executive. “The decision to discontinue the agricultural implement product lines is a response to the ongoing reduction of the company’s traditional dairy farmer customer base and the resultant decline in the company’s sales and earnings of its implement line.”
