OVIEDO, FL -- On Friday, March 7, ROL Manufacturing filed for creditor protection in Canada under the “Companies' Creditors Arrangement Act.” The filing is also recognized by the U.S. Courts.

Commenting on the announcement, Julian Haller, president and CEO, said, “Certain factors related to economic pressure have driven us to this decision. Our objective is to re-organize, emerge and strengthen our company.

“A major contributor is that most of our manufacturing of gaskets, rubber components and exhaust parts is in Canada. The continued strength of the Canadian dollar, coupled with the fact that the majority of our Canadian made parts are exported to the U.S. and sold in U.S. dollars, has had a significant negative impact on our financials.”

Haller added that an important part of the company’s re-organization plan is to move more of its high-labor content, commodity manufacturing to its Mexico facility. Canada will remain ROL’s hub for engineering, R&D and high-tech manufacturing.

“This will help reduce our costs and get our company back to the financial strength we are accustomed to,” Haller said.