Rexnord Lost up to $20 Million Due to Blast

Rexnord Lost up to $20 Million Due to Blast The parent company of Falk Corporation says it lost up to 20 (m) million dollars in sales because of an explosion last month that killed three people and injured dozens. Rexnord Corporation says it expects to report net sales of more than 283 (m) million for the three months that ended December 30th, which is up seven percent from the year before. But it would have been 15 to 20 (m) million dollars higher, had it not been for the December sixth explosion. It demolished 80-thousand square feet in warehouse, storage and non-production buildings. Rexnord officials say the company's two (b) billion dollar insurance policy will cover the damage. Rexnord and Falk make gears, couplings, chains, bearings and other industrial components. Officials are still investigating the blast's cause.