Rexnord LLC, Milwaukee, WI, a diversified industrial company focused on power transmission and water management products, reported third quarter sales of $443 million, a decline of 1% from the prior year. The company recorded a quarterly loss of $355 million. Core sales contracted 2%.
Third quarter power transmission sales declined 6% from the prior year third quarter to $316 million. Core sales were flat.
Water management third quarter sales were $128 million, an increase of 11%. Core sales declined 6%.
In response to economic conditions, Rexnord took actions during the third quarter to reduce its cost structure. Headcount was reduced by 500 employees, 7% of the employee base, and will be reduced by an additional 7% in the fourth quarter. …
Rexnord Core Sales Contract 2% in 3Q
Rexnord LLC, Milwaukee, WI, a diversified industrial company focused on power transmission and water management products, reported third quarter sales of $443 million, a decline of 1% from the prior year. The company recorded a quarterly loss of $355 million. Core sales contracted 2%.
Third quarter power transmission sales declined 6% from the prior year third quarter to $316 million. Core sales were flat.
Water management third quarter sales were $128 million, an increase of 11%. Core sales declined 6%.
In response to economic conditions, Rexnord took actions during the third quarter to reduce its cost structure. Headcount was reduced by 500 employees, 7% of the employee base, and will be reduced by an additional 7% in the fourth quarter. …
Share this article
Log In
Read the latest articles and see your reports.
Popular Now
MDM Directories
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.
