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

Facilities & equipment, Motor Vehicle Parts, Motor Vehicle Parts Manufacturing, Ontario, Automotive parts, Article, JPE Inc.

---

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.

Canada, Labor force information, Motor Vehicle Seating and Interior Trim Manufacturing, Automobile Seating, Lear Corp., Car seating

---

Similar abstracts:

• Abstracts: Networks take step to replace Nielsens. Radio broadcaster ventures into TV. GM, Chrysler shift flights to low-fare carrier ProAir
• Abstracts: Air Canada prepares for market downturn. Air Canada to combine two regional airlines in east. Strike costly for Air Canada
• Abstracts: GM output near zero as strike continues. Fords exercise family clout; power rests in stock shares, board seats
• Abstracts: Partners plan art-house cinema chain. Livent receives copy of KPMG forensic audit
• Abstracts: Canada Trust plans new mutual lineup. Index funds gain popularity in Canada

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.