OMC will close 2 plantsl; layoffs planned
Article Abstract:
Outboard Marine Corp. (OMC) announced plans to shut down its facilities in Milwaukee and Waukegan, IL, over the next two years, as part of a cost cutting and delivery improvement strategy. The closures come following a study that indicated the need to consolidate manufacturing at the two plants into the firm's other existing facilities. The plant shut downs will lead to layoffs of over 900 workers, specifically 495 in Waukegan and another 416 in Milwaukee. Coinciding with the move is the appointment of Bob Gowens as vice president of Outboard Marine Corp.'s outboard engine unit and president of North American operations. Gowen will supervise all engine group operations as well as development and application of the firm's FICHT fuel injection technology.
Comment:
Names Bob Gowens as VP of Outboard Marine Corp's outboard engine unit and president of North American operations
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 1998
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Fountain's earnings are up, profits down
Article Abstract:
Fountain Powerboat Industries Inc., a Washington, D.C.-based boat manufacturer, saw only a slight increase in sales for fiscal 1998 ending June 30, 1998, to $50.65 million from $50.51 million in 1997. Its net earnings for the year almost doubled to $2.74 million from $1.24 million in 1997. However, its operating profit dropped to $4.08 million from $4.5 million. Decline was also seen at unit production of its three model lines. Overall, production fell to 449 units from 479 in fiscal 1997. Despite the flat results, Fountain Powerboat still continues to invest in new product development, design research and new tooling.
Comment:
Posts slight increase in sales for 1998 ending 6/30 to $50.65 mil from $50.51 mil, while profit fell to $4.08 mil from $4.5 mill
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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