Twin Disc announces the sale of its Belgian site

RACINE, Wis., Sept. 20, 2022 (GLOBE NEWSWIRE) — Twin Disc, Inc. (NASDAQ: TWIN), a global leader in power transmission technology for marine, land, and oil and gas applications, announced the sale of its establishment located at 54 Chaussée de Namur, Nivelles, Belgium. The 390,000 feet2 the property, including land and buildings, was sold for €6,950,000. The agreement also contains a two-year renewable leaseback clause, allowing for a smooth transition to a smaller, more efficient facility.

“The sale of our Belgium plant is a continuation of an asset optimization strategy,” said John Batten, President and CEO of Twin Disc, Inc. “Our approach to resizing our footprint makes Twin Disc more efficient and more profitable. and sustainable. We continue to invest in the modernization of our global facilities, including the anticipation of a new modern facility in Belgium.

Twin Disc, International SRL, currently operating from this facility, is primarily focused on manufacturing marine transmissions for the commercial and recreational boat markets, but also sells and supports Twin Disc industrial products. A comprehensive transition plan will be established to ensure minimal impact on customers.

About Twin Disc
Twin Disc, Inc. designs, manufactures and sells heavy-duty marine and off-road power transmission equipment. Products offered include marine transmissions, azimuth drives, surface drives, propellers and boat management systems, as well as shifter transmissions, hydraulic torque converters, power take-offs, industrial clutches and control systems. The Company sells its products to customers primarily in the recreational, commercial marine and military markets, as well as the energy and natural resources, government and industrial markets. The Company’s worldwide sales to domestic and overseas customers are conducted through a direct sales force and a network of distributors. For more information, visit www.twindisc.com.

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