NTN Driveshaft to close one Columbus plant

NTN Driveshaft Press Release

Schaumburg, IL – NTN USA announced that it is initiating a significant transformation of its North American Automotive and Industrial manufacturing operations. This strategic initiative will streamline its manufacturing footprint, improve overall effectiveness and efficiency across the business segment while maintaining quality and delivery to customers.

As part of the transformation, today NTN USA announced the following key actions that will take place over the ensuing 18-24 months:

• NTN Driveshaft Inc (NDI), Columbus, Indiana: Actions will begin to adjust overall production capacity for CVJs. NTN will implement actions to ramp down and close the CVJ East Plant. Over the ensuing 18-24 months, the CVJ West Plant and Forging Plant will remain fully operational as production capacity is adjusted.
• NTN Driveshaft-Anderson, Inc. (NDA) Anderson, Indiana: Actions will begin to ramp down and close the I/C shaft manufacturing plant over the next 18 months. The remaining CVJ Plant will remain fully operational.
• American NTN Bearing Manufacturing (ANBM), Elgin, Illinois: Actions will begin to
  consolidate certain sections of its axle bearing production into one facility on its campus. Component production will be optimized by shifting a portion of production to other NTN subsidiaries and other locations, and reorganizing production operations in its newest facility in Elgin.
• NTN Bower Corporation, Macomb, Illinois: Actions will begin to transfer production of Automotive CVJ components to existing NTN locations in other regions. NTN Bower in Macomb will now focus on supporting the Industrial OEM and Industrial Aftermarket business segments. The NTN-Bower plant located in Hamilton, Alabama will ramp down operations and close over the next 18 months.

NTN will provide opportunities for impacted employees to transfer to other NTN locations in the U.S. based on available positions and skills required. Enhanced severance pay, continuation of healthcare benefits, and extensive career transition service will be provided to all employees impacted by these transitions.

These decisions have been carefully planned to maintain quality requirements and protect product supply and delivery commitments in a seamless transition. All existing contractual obligations will be honored. NTN remains committed to delivering world-class products and service to its customers throughout this process.