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Rexnord to slash debt after quarterly loss

Milwaukee, Wis. - Following a quarterly net loss of $2.8 million, executive officers at Rexnord Corp., a manufacturer of motion technology products, said the company is focused on reducing its debt.

In a report of first quarter 2007 results, CFO Tom Jansen highlighted increased quarterly sales growth and CEO Bob Hitt identified encouraging tren......

Full article >>> port back, but to be there for the market that we need to support," Hitt said. "Our priorities for the remainder of fiscal 2007 will continue to be to reduce our leverage by focusing on driving growth, margin expansion, and generating cash to reduce our debt."

Rexnord has approximately 5,800 employees worldwide, and total company assets are valued at approximately $1.6 billion.

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Source:wistechnology.com By Chris Fleissner 08/09/06


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