Manufacturer Regal Beloit Corp. (NYSE: RBC), Beloit, Wisconsin, said it will close a bearings manufacturing plant in Valparaiso, Indiana.
Workers at the 109-year-old manufacturing operation, that makes bearings for helicopters and planes, including Apaches and Air Force One, have been on strike since June 30.
"On Aug. 27, 2019 representatives from Regal Beloit met with IAMAW Local 2018 and a federal mediator to continue our collective bargaining negotiations," Regal Beloit Vice President-Business Development and Investor Relations Robert Cherry said. "During this session, we informed Local 2018 that after further review of the current operations in Valparaiso, we intend to discontinue our operations at this facility, exit certain products and move the remaining work to our Monticello, Indiana, plant. This was not a decision that we made lightly, and a number of factors were considered including customer orders, inventory levels and overall plant efficiency. We are committed to further discussions with the union within the collective bargaining process. We will continue to rely on our contingency plan in order to provide our customers with the highest quality products and service.”