Twin Disc Chairman Michael Batten Passes Away
Twin Disc, Inc. announced the passing of Michael E. Batten, Chairman of Twin Disc, Inc. He died in his sleep on the morning of May 6, 2015 at the age of 75. Batten worked at Twin Disc since June 1, 1970 and was fully devoted to the company and his family. His positive impression on the countless coworkers he worked with during his more than four decades of service at Twin Disc, as well as the greater community of his lifelong home of Racine, Wisconsin, will not be forgotten. Batten will be remembered for his hard work, dedication, intelligence, honesty and fairness. The board of directors met on May 7, 2015 and appointed David B. Rayburn as Chairman.
Twin Disc Expands Marine Presence In Japan
Twin Disc is forming a majority-owned joint venture with Niigata Engineering Company, Ltd., of Tokyo, Japan. Twin Disc has had a long-standing and mutually successful relationship with Niigata Engineering. The new venture, named NICO Transmissions Co., Inc., will be an engineering and marketing company supporting Twin Disc's expanding global marine product line as well as a distribution company for NICO's family of transmission products. Twin Disc also reported that it has sold its 25% ownership position in the Niigata Converter Company to Niigata Engineering and, as a result, will realize a pre-tax gain in its fiscal third quarter ending March 31, 2001. A portion of the gain, estimated to be approximately $2.7 million, will capitalize the new venture.
