Minebea Co., Ltd.
Notice concerning the Commencement of Consultation with Trade Union on the Closure of Skegness Plant in the U.K.
Minebea Co., Ltd. announces the announcement of consultation with the trade union on the closure of the Skegness plant of NMB-MINEBEA UK LTD., its wholly owned U.K subsidiary.
1. The background to the commencement of consultation on closure with the trade union
NMB-MINENEA UK LTD. is operating at the Skegness plant for production of ball bearings, the Lincoln plant for production of rod-end and spherical bearings and the Bracknell office. Of these sites, the Company will announce the proposal to close the Skegness plant, its ball bearings production site and promptly enter into consultation with its trade union.
The severe economic slowdown worldwide since the financial crisis in the U.S. last autumn has dramatically decreased demand from automobile-related industries in Europe and the U.S.-the principal customer base of the plant. The factory has faced sharp decrease in demand for ball bearings that are being produced by it, and has been placed into a difficult position of maintaining its redundant manufacturing capacity.
2. Outline of the plant
|Name :||NMB-MINEBEA UK LTD. (Skegness Plant)|
|Location :||Church Road, Skegness, Lincolnshire PE25 3RS, UK|
|Beginning of operation :||October 1990|
|Representative :||Mark Stansfield (Managing Director)|
|Business :||Manufacture of small-sized ball bearings|
|No. of employees :||176|
|Operating results :||Net sales of NMB-MINEBEA UK LTD. Skegness Plant|
|Year to March 2008
GBP 18.2 million
(Approx. JPY 4,212 million)
|Nine months to December 2008
GBP 14.5 million
(Approx. JPY 2,843 million)
|Capital :||GBP 43.7 million|
|Shareholder :||Minebea 100%|
Note) Capital and shareholder are the figures of NMB-MINEBEA UK LTD. including the two other sites.
3. Schedule for the future
We will take procedures pursuant to the results of 90-day consultations with the trade union.
4. Impact on operating results
It is difficult now for us to appropriately forecast how much impact this matter will have on Minebea's operating results for the fiscal year ending March 31, 2009. We will examine the effects of the plant closure carefully and announce them without undue delay.
|Company Name:||Minebea Co., Ltd.|
President and Chief Executive Officer
(Code No. 6479 TSE Div. No. 1)
|Contact Person:||Yasunari Kuwano
Corporate Communications Office
Corporate Planning Division
Product information, contact and other context are subject to change without prior notice.