July 16, 2015

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Article

ICON Health & Fitness to Move Manufacturing Offshore, Reduce Workforce

Press Release

July 16, 2015

Logan—ICON Health & Fitness, Inc. announced Tuesday that it will move the last of its home fitness manufacturing operations offshore, discontinuin manufacturing in Logan effective Oct. 31, 2015. As a result, there will be a reduction of approximately 400 positions, primarily in home treadmill manufacturing. The company expects this will improve its competitive efficiencies. ICON’s business model has included offshore manufacturing since its inception nearly 40 years ago.

As ICON continues to grow, the company’s long-term strategic plan is to continue designing, engineering, marketing, selling and distributing fitness equipment, footwear and fitness technologies to a growing global market from its headquarters in Logan, Utah. ICON has more than 1,500 non-manufacturing employees in Logan and expects to add local jobs as the company continues its growth.

“These decisions are tough, but important to ensure continued long-term profitability and competitiveness for our employees and the company,” said Scott Watterson, Chairman and CEO. “We have kept as much manufacturing here as long as we could.”

“The company thanks all our employees for their dedication and years of service. We especially wish to express our appreciation to those who are affected by this decision. As such, the company will provide a severance and incentive package for employees who stay through the end of the production period,” he added. “In addition, these employees will receive assistance in finding jobs inside and outside the company.”

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