Twin Disc announces sale of Belgium facility
Twin Disc, Inc., a global provider of power transmission technology for marine, land-based, and oil & gas applications, has announced the sale of its facility located at 54 Chaussée de Namur, Nivelles, Belgium. The 390,000 ft2 property, including a plot of land and buildings, was sold for €6.950.000. The agreement also contains a two-year renewable leaseback provision, allowing for a smooth transition to a smaller and more efficient facility.
“The sale of our Belgium facility is a continuation of an asset optimization strategy,” said John Batten, President & Chief Executive Officer, Twin Disc, Inc. “Our approach to right-sizing our footprint makes Twin Disc more efficient, cost-effective, and sustainable. We continue to invest in modernizing our global facilities, including the anticipation of a new, modern facility in Belgium.”
Twin Disc, International S.R.L., currently operating out of this facility, is primarily focused on manufacturing marine transmissions for the commercial and pleasure craft markets, but also sells and supports Twin Disc industrial products. A comprehensive transitional plan will be established to ensure minimal impact on customers.