Twin Disc sells Belgium facility
22 September 2022
Twin Disc, Inc., a global supplier of power transmission technology for marine, land-based and oil & gas applications, has announced the sale of its facility in Nivelles, Belgium. The 390,000 sq. ft. property, including plot of land and buildings was sold for €6.95 million. The agreement also contains a two-year renewable lease-back provision, allowing for the company’s move 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 and CEO of Twin Disc. “Our approach to rightsizing 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, the company said.