Central Boiler, parent company of Altoz, a maker of zero-turn mowers, announced recently that all 231 of its employees would receive bonuses this year. The total payout comes to $1.26 million and includes the company’s match of up to 15 percent of employees’ contributions to their 401(k) accounts.
Central Boiler’s financial performance for the year, along with an employee’s length of service with the company, are the main factors in determining bonus amounts.
The bonus payments were announced by the Greenbush, Minnesota-based company’s owners, Dennis and Terri Brazier, at a recent employee meeting.
At that meeting, Dennis Brazier noted that Altoz had a successful year in 2015, including its introduction of new models this fall, while expanding its dealer network.
“This year we were excited to add the XR series, which is a commercial quality zero-turn mower with a price that falls within the residential segment,” Dennis Brazier said. “Altoz currently has 33 models of zero-turn mowers and we’ve increased our efforts to grow our dealer network throughout the United States.”
Terri Brazier, meanwhile, noted that more than 60 percent of Central Boiler’s employees have been with the company for more than seven years.