Bristol Compressors Going Out of Business
On July 31, Bristol Compressors, Bristol, Virginia, announced its intentions to cease operations and immediately begin a 60-day wind-down process. During this process, the company’s website states that it would coordinate with customers, suppliers, and employees to provide an orderly end to production. The company did not respond to requests for additional information, but the closure is expected to result in the loss of 470 jobs.
Since 1974, Bristol Compressors has developed and manufactured hermetic compressors for residential and light commercial air conditioning, heat pump, and refrigeration markets. According to The Business Journal of Tri-Cities Tennessee/Virginia, company officials blamed the closure on soft demand for its products in the Middle East market. The company had placed a substantial burden on its Middle Eastern sales to make up for lower market share in North America, but those sales failed to materialize in great enough volume to save the company, noted the Business Journal.
Earlier this year, Bristol Compressors announced an exclusive global strategic partnership with DHX Electric Machines Inc. to develop Next Gen HVACR compressor technology, leveraged by ultra-high torque density electric motors with the patented Direct Winding Heat Exchanger DwHX™ cooling system. Through this partnership, Bristol and DHX planned to develop and deliver the most cost effective high efficiency compressors and systems in the industry, according to a press release.
In response to the closure, DHX Electric Machines tweeted, “We are saddened to hear about the closure of Bristol Compressors International. Our thoughts are with the Bristol folks today. We enjoyed working closely since 2015.”
Publication date: 8/30/2018