TB Woods (NASDAQ:TBWC)
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From Jul 2019 to Jul 2024
TB Wood's Announces the Closure of Its Manufacturing Facility in
Trenton, Tennessee
CHAMBERSBURG, Pa., June 1 /PRNewswire-FirstCall/ -- TB Wood's Corporation
(NASDAQ:TBWC) today announced the decision to close its manufacturing facility
located in Trenton, Tennessee. In a restructuring designed to maintain the
company's long-term competitive position, the work from the Trenton facility
will be consolidated into four existing TB Wood's plants. The company expects
to begin moving equipment within 60 days and to cease all operations in Trenton
by the end of this year.
According to Willard C. Macfarland, General Manager of the company's Mechanical
Division, "The decision to close the Trenton Plant did not come easily. The
plant and its dedicated employees have been an important part of our operations
for more than 20 years. We very much regret the impact this will have on our
Trenton associates and will work hard to assist them during this transition."
The Trenton plant currently employs 78 people.
TB Wood's (http://www.tbwoods.com/) is an established designer, manufacturer
and marketer of electronic and mechanical industrial power transmission
products, which are sold to North American and international manufacturers and
users of industrial equipment. Headquartered in Chambersburg, Pennsylvania,
the Company operates production facilities in the United States, Mexico,
Germany, Italy and India.
This press release contains statements that are forward-looking within the
meaning of applicable securities laws. These statements include or imply
projections of future performance that are based upon the Company's
expectations and assumptions. These expectations and assumptions, as well as
the Company's future performance are subject to a number of risks and
uncertainties. Factors that could cause actual results to differ from
projected results are discussed in various of the Company's documents filed
with the SEC.
CONTACT: Joseph C. Horvath, Chief Financial Officer, TB Wood's Corporation,
+1-717-264-7161, Extension 4465.
DATASOURCE: TB Wood's Corporation
CONTACT: Joseph C. Horvath, Chief Financial Officer, TB Wood's
Corporation, +1-717-264-7161, Extension 4465
Web site: http://www.tbwoods.com/