Steelcase to close door on some factories
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Manufacturing News, Source : TheManufacturer.com
Published : 28 Mar 2005 17:57
In an effort to reduce costs and to streamline operations Steelcase Inc. has announced plans to close several manufacturing facilities in the Grand Rapids, MI, area.
Steelcase, a leading office furniture maker, anticipates a net reduction of approximately 100 salaried and 500 hourly jobs and about 2.6 million-square-feet of manufacturing related to these actions. The company hopes to see savings in the $35 million to $45 million range annually.
The combination of the layoffs and plant closings, along with the implementation of lean manufacturing may help Steelcase recover from a disappointing recent past. The company hopes to achieve its previously communicated 35 percent long-term gross margin target.
"We've emerged from difficult economic times a stronger company, determined to continually improve every aspect of our business," said James P. Hackett, president and CEO. "These changes reflect our ongoing commitment to build a new and more flexible industrial system that will ensure our competitiveness. We continue to execute our strategy of implementing lean manufacturing, reducing complexity and developing a world-class global supply chain."
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