ArvinMeritor to close Tenn. facility, layoff 300 employees
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Manufacturing News, Source : TheManufacturer.com
Published : 22 Jan 2003 16:24
Troy, Mich.-based ArvinMeritor, a global auto component manufacturer, announced plans to close its Light Vehicle Systems (LVS) manufacturing plant in Gordonsville, Tenn and to lay off approximately 300 salaried employees.
The plant closure and layoffs follow the recent consolidation of the company’s LVS businesses, which was a move to better position itself in the increasingly competitive auto market.
“Our industry faces significant challenges, including overcapacity, rising employee health care costs, increasing steel costs, and weak North American and European economies,” said Craig Stinson, LVS president. “In addressing these and other issues, we must identify and focus our efforts on streamlining business processes and reducing costs across the organization.”
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