Item 2. Properties
Item 2. Properties.
Our facilities incorporate manufacturing, research and development, sales and marketing, and administration functions. As of December 31, 2025, we leased the following principal facilities:
Approximate
Location
Description of Facility
Square Footage
Expiration
New Brighton, Minnesota
Manufacturing facility
75,000
2030
Holliston, Massachusetts
Manufacturing facility and corporate headquarters
52,000
2029
Reutlingen, Germany
Manufacturing facility
23,000
2029
Barcelona, Spain
Manufacturing facility
16,000
2026+
March-Hugstetten, Germany
Manufacturing facility
11,000
2029
+ This lease is renewed on a month-to-month basis.
We also lease facilities in Cambridge, England; Stockholm, Sweden; Beijing, China; and Shanghai, China. As described elsewhere in this report, as part of Project Viking, the Company expects to close its manufacturing facility in Holliston, MA and transition U.S. production to its manufacturing hub in Minneapolis, MN. Certain operations are expected to be relocated to facilities in Germany, Sweden, and the UK, aligning specific product lines with their designated center of excellence and most strategically advantageous logistical location. We believe our current facilities are adequate for our needs for the foreseeable future.
Item 3. Legal Proceedings.
For information related to legal proceedings, see the discussion in Note 16 to the consolidated financial statements included in “Part IV, Item 15.
Exhibits, Financial Statement Schedules” of this report, which information is incorporated by reference into this Item 3.
Item 4. Mine Safety Disclosures
Not Applicable.
PART II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.