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Generac Generating Jobs and Products
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Generac CEO Aaron Jagdfeld on increased demand for back-up power systems.
- Duration 2:18
- Date Dec 7, 2012
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Transcript
This transcript is automatically generated
Redding job then profits from the devastation caused by hurricane sandy.
Hiring at one company is actually spiked because of the -- -- Jeff Flock is joining us now for Whitewater Wisconsin what thwart -- I have a unique CEO for you today said he was concerned about the fiscal cliff but at the same time it's hiring like it's going out of style.
-- Gutfeld is CEO of -- -- take a look what's coming off the line as we speak right now.
That is one of your home power units.
Has become so much in demand because the sand and has known these are products that have only been around about ten years.
Only in two and a half percent of US households but a huge opportunity for market to say you are hiring -- you part about 200 people.
Additionally since sandy -- we have we bring -- -- -- -- -- about three shifts in this facility today in response take a look at the stock if you would and walked me out here because it would -- much is as much of this facility is I can't 300000 square foot facility.
Take a look at the stock.
You went up to forty you doubled in value as a result of -- hurricane.
We dead you know I think people have really -- understand the importance of back -- power and whether or homeowner whether your business owner.
Think this is the line it turns out the back up power this unit right here -- take a look.
People have said I don't want to be out of power every time there's a storm.
They're they're installing these at a cost of about its.
Is it 2000 they're cheapest models starting price is under 2000 dollars gotta have installed may go as high as 45000 dollars but.
-- everything from the critical things in your home so that to the whole house this market is one this undeveloped what percentage of people have these kind of generation capabilities in the US.
It's only about two and half percent houses every 1% of penetration that we can find his two billion dollars of market share.
The market opportunity so you're an expansion mode I look at people -- you just tired 200 additional people.
You're concerned -- about this this booklet what.
Impact would that have on your business.
Well certainly you know that could dampen demand for products we we worry about the fiscal -- but the same time.
People are more worried I think about power quality in the US today and that's certainly helps demand for our products are yacht -- came on as CEO this company by the way went public.
In 2010 stock price thirteen dollars they recently got up to forty price targets are above that on it.
Take a look at -- -- Charles -- has been doing just that looks like you have to right Jeff Flock thank you very much.
