Hardy & Grey’s Restructures in Europe

According to a statement released Wednesday, venerable gear manufacturer Hardy & Grey’s will reduce staff in its Alnwick headquarters in response to increasing costs and lower margins.  The company also announced the departure of managing director Richard Sanderson.  The job cuts will not affect Hardy operations in Germany or the U.S., where the company says it is gaining market share.

Jim Murphy, president of Hardy’s North America operations, told us yesterday: “I would like to say that it is always a difficult day when people are let go.”

“We also appreciate the confidence the Board has shown for Hardy North America.  Their future commitment of considerable product development and capital resources specific to US products and markets places a big responsibility on our crew here in states.  We fully intend to prove them right in their confidence in our market and will work together with the home office in Alnwick to continue to grow and prosper.”