Tuesday, July 18th, was a milestone day at Lexington’s Leroy-Somer plant. Earlier in the year saw a buy-out and some layoffs, but the corner has turned for the local industry under the new parent company, Nidec. The event unveiled a new sign along with brief remarks from Nidec, plant staff, and local dignitaries. Local officials included City Mayor, David Jowers; County Mayor, Dan Hughes; Teresa Jones, Executive Director, Lexington-Henderson County Alliance, and Bobby Dyer, Chairman, Lexington Industrial Board.
“The benefits of this acquisition for Nidec included obtaining a strong brand, great products and dedicated, experienced employees; strategically expanding their business mix; and establishing a larger North American presence. Leroy-Somer acquired a new partner with financial strength and a focus on growth. Synergies that come from being a larger and specialized organization will open doors that benefit our employees and the Lexington community. New signs have been installed that signal a new exciting chapter in our proud history, and other changes will follow in the months ahead,” the news release from Nidec said.
“As we incorporate these changes and seek new ways to meet current business challenges in our competitive environment, we look forward to sharing more news about …
For complete story, see the July 19th edition of The Lexington Progress.