Honda Power Equipment supplier finds $5 million to hire 100 new employees
The Honda Power equipment supplier found $5.8 million to add new employees, including 10 to 12 full-time positions, as it seeks to fill its current workforce of 250, according to company filings with the Securities and Exchange Commission.
The company said it expects the hires to be completed by the end of this year.
Honda Power’s annual report, filed with the SEC last week, shows that the company reported a loss of $7.9 million for the three months ended July.
The increase was mainly due to a $1.2 million impairment charge, offset by $3.9 in net income.
Honda said in its filing that the additional hires will enable it to “continue to offer quality products and services to customers and support the company’s ongoing growth strategy.”
Honda Power was founded in 2001 and was the world’s largest producer of powertrain components and components for automobiles.
It operates plants in California, Mexico and the United States.
The Honda brand has been around for over 30 years, but the company was acquired by Honda Motor Co. in 2014.
Honda is a member of the Japanese auto group Fuji Heavy Industries.