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Midwest HVAC News
Regal Beloit Corporation
Announces Plant Restructuring.
Regal Beloit Corporation (NYSE:RBC) has informed employees at its
Springfield, Missouri facility of the Company’s decision to cease
operations at the manufacturing facility, which employs
approximately 330 employees. The Company will transfer the
manufacturing of motors and components from Springfield to other
Regal facilities in the US and Mexico over the next 18 months.
Regal has multiple manufacturing facilities that make various
component parts and motors. The Company believes that consolidating
the Springfield operation into existing Regal facilities will enable
the Company to remain globally competitive, reduce variation between
its manufacturing facilities and improve cycle times. The decision
to close the Springfield facility is not a reflection on the quality
of the Company’s employees in Springfield.
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Regal has a
comprehensive benefits package for eligible employees affected
by the plant closure, including a retention bonus and vision,
medical and dental insurance continuation for a limited period
of time. Regal intends to help affected employees make a
successful transition from the Springfield facility to other
employment, and will explore employment opportunities for
affected employees in other Regal facilities, including several
in Missouri, as well as assist with job searches within the
community.
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.
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