BLUFFTON, Ind., March 20 /PRNewswire-FirstCall/ -- In 2003, Franklin Electric Co., Inc. (NASDAQ:FELE), announced a global manufacturing realignment program that included the construction of a new submersible motor manufacturing facility in Linares, Mexico and the concurrent reduction of capacity in its Siloam Springs, Arkansas plant. The Linares plant started producing complete motors in January 2003 and production has steadily been expanded since that time. Through 2006, employment reductions in Siloam Springs have been accomplished through attrition and planned retirements. However, as a result of an additional recent capacity expansion at Linares, the Company is announcing an employment reduction at the Siloam Springs facility of approximately 200 employees during the second quarter of 2007.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000223/FRANKLOGO) Going forward, Siloam Springs will focus on manufacturing 4-inch high- thrust submersible motors, submersible gasoline pump motors, and capital intensive motor components such as laminations, rotor cores, and shafts that are used by Siloam Springs, Linares, and other Franklin facilities. Linares will produce 4-inch low-thrust submersible motors for the North American, South American, and Asia-Pacific markets.
Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and automotive fuels. Recognized as a technical leader in its specialties, Franklin serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein involve risks and uncertainties, including but not limited to, general economic and currency conditions, various conditions specific to the Company's business and industry, market demand, competitive factors, changes in distribution channels, supply constraints, technology factors, litigation, government and regulatory actions, the Company's accounting policies, future trends, and other risks which are detailed in the Company's Securities and Exchange Commission filings. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. http://www.newscom.com/cgi-bin/prnh/20000223/FRANKLOGO http://photoarchive.ap.org/ DATASOURCE: Franklin Electric Company, Inc.
CONTACT: Thomas J. Strupp of Franklin Electric Company, Inc., +1-260-824- 2900 Web site: http://www.fele.com/
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