Robertshaw Confirms Its European Commitment After Slovakia Plant Sale
TRNAVA, Slovakia, Dec. 17, 2024 /PRNewswire/ -- Robertshaw Controls Company ("Robertshaw" or the "Company"), a leading global design, engineering and manufacturing company, has issued a clarification regarding the October sale of its manufacturing plant in Trnava, Slovakia, confirming its continued commitment to the European market.
Almost immediately after the sale was completed, Robertshaw uncovered a series of inaccurate and misleading statements. At the same time as the plant transfer, there was an ongoing restructuring for Robertshaw's US operations which allowed Robertshaw to eliminate approximately $650 million of debt, greatly improving its liquidity and providing the Company the financial flexibility to invest in growth and better serve its global customer base. This restructuring was completely independent of its plant sale, and any information to the contrary is a falsehood. The company continues to steadfastly support the European market and remains committed to long-term operations and continued growth at its many existing worldwide manufacturing locations.
Selling the plant was in the best interest of the Company and its 130 Trnava plant employees, who, through the sale, were able to maintain their plant employment. Robertshaw sincerely appreciates those employees' hard work, expertise and professionalism and is gratified they could secure positions with the plant's new ownership.
The continued financial soundness of the Company is evident by the celebration of its 125th anniversary and its 125 years of continual innovation. "Today, we employ more than 4,800 employees worldwide in 14 countries," said John Hewitt, Chief Executive Officer, Robertshaw. "A lot has changed, but one thing has remained constant—our commitment to improving how things are done in electric and gas cooking, refrigeration, heating, clothes washing and drying and so much more. We look forward to continuing to produce innovative and high-quality products for our customers over the next 125 years."
About Robertshaw
Robertshaw is a global leader in the design, engineering, and manufacturing of control components for the appliance industry. Robertshaw delivers advanced flow control components and systems for water, gas, and other fluids to help build extraordinary products that improve safety, comfort, health, and happiness.
Media Contact: Katie Kretschmar, [email protected]
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