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Bitter Blow for Newark: NSK Production to Cease
2 Apr
Summary
- NSK plans to cease production at its Newark factory after 125 years.
- Hundreds of jobs are at risk due to the planned closure.
- The closure is part of ongoing structural reforms in NSK's European operations.
Hundreds of jobs are at risk in Newark following the announcement by bearing manufacturer NSK that it intends to cease production at its factory there. The company has operated in the Nottinghamshire town for over 125 years.
NSK stated that withdrawing production from its Newark base is part of "structural reforms in its European operations." The company has cited persistent challenges in the profitability of locally manufactured products in Europe as the reason for these measures.
Local leaders have reacted with shock and dismay. The Labour leader of Newark and Sherwood District Council called the news "devastating," emphasizing the company's long-standing presence and its impact on numerous families. Support has been offered to those facing potential job losses.
Robert Jenrick, the MP for Newark, commented on the need for competitive taxation and cheaper energy costs to maintain manufacturing jobs in the UK. NSK plans to consult with stakeholders, with the potential closure occurring no later than March 2027. Approximately 220 employees may be affected.
