JPE takes writedown on Ont. plants
Article Abstract:
JPE Inc., an motor vehicle parts manufacturer based in Arbor, MI, has taken a $4.5-million writedown on its two Ontario plants in Kitchener and Peterborough as the operation are not in compliance with financial covenants. As a result, losses would increase to C$8.3 million in the second quarter of 1998. The two plants, which employ a total of around 450 people, mainly manufactures plastic parts to its sole customer, General Motors Corp. JPE has been attempting to sell the two plants, but the GM strike has hampered the move.
Comment:
Has taken a $4.5-mil writedown on its two Ontario plants in Kitchener & Peterborough
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Ford Windstar success results in layoffs
Article Abstract:
Automotive seat maker Lear Corp will lay off 215 workers at its Oakville, Ontario, plant, as part of its plan to shift production to its plant in Romulus, MI. The company said the production has exceeded the capacity at its Oakville plant, which produces seats for Ford Motor's Windstar minivan. Production at the plant jumped by 19% to 79,613 due to increasing demand for Windstar minivans. The job cuts will start on Apr 23, 1999.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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