RBC Bearings Sells Nice Bearings Facility

Monday, December 18, 2006
RBC Bearings Incorporated, an international manufacturer of highly-engineered precision plain, roller and ball bearings for the industrial, defense and aerospace industries, announced that it has completed the sale of its Nice Bearings facility located in Kulpsville, Penn. The asset was sold to Corvest Realty Group, Inc. The company will realize approximately $3.5m in net proceeds from the sale and a gain of approximately $800,000 before taxes. "The sale of this facility represents the final phase of our Nice Bearings consolidation," said Dr. Michael J. Hartnett, Chairman, President and Chief Executive Officer. "We are very pleased with our team's continued progress in driving efficiencies across the business and their ability to move production seamlessly from the Nice Bearing facility to other RBC locations. We believe that the completion of this facility sale demonstrates our continued execution and commitment to operational improvement."

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Ri'chard Joins Holland America Line as Director

Holland America Line has appointed Denella Riā€™chard to the position of director, trade communication and engagement. In this newly created role she is responsible

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0905 sec (11 req/sec)