BELOIT, Wis., June 5, 2014 /PRNewswire/ -- Regal Beloit
Corporation (NYSE:RBC) has informed employees at its Mt. Sterling and Winchester, Kentucky locations of its decision
to cease operations at both facilities. The products and
processes located at these facilities will be transferred to other
Regal and non-Regal facilities. This will affect approximately 200
employees.
Regal has multiple manufacturing facilities that make various
component parts and motors. Regal believes that consolidating
these operations will enable it to remain globally competitive,
reduce variation between its manufacturing facilities and improve
cycle times. The decision to close these facilities is
not a reflection on the efforts of Regal employees.
Regal will be meeting with the union to discuss the impact of
this decision in compliance with the National Labor Relations
Act. It is the Company's intention to provide a comprehensive
benefits package for eligible employees affected by the plant
closures.
Regal's goal will be to help affected employees make a
successful transition from their jobs to other work within Regal
Beloit Corporation or in the community.
Please direct
inquiries to:
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John Perino, VP
Investor Relations
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Ph:
608-361-7501
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Email:
john.perino@regalbeloit.com
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Regal Beloit Corporation is a leading manufacturer of electric
motors, mechanical and electrical motion controls and power
generation products serving markets throughout the world.
Regal is headquartered in Beloit,
Wisconsin, and has manufacturing, sales and service
facilities throughout the United
States, Canada,
Mexico, Europe and Asia. Regal's common stock is
a component of the S&P Mid Cap 400 Index and the Russell 2000
Index.
SOURCE Regal Beloit Corporation