Chainsaw maker closing Tenn. plant, cutting 100 jobs
Member Center:
PORTLAND, Ore. (AP) -- Chainsaw and yard care product maker Blount International Inc. said on Monday it will permanently close its plant in Milan, Tenn., by the end of June, eliminating nearly 100 jobs.
The company said the factory is one of seven producing for its outdoor products segment, and accounted for about five percent of the segment's production costs in 2008.
Production will shift to the company's remaining plants.
The shutdown will result in a charge of between $4.5 million and $5.5 million for the 2009 first quarter, including $3 million to $3.5 million related to the disposal and write-down of assets that will not be transferred to other facilities, and $1.5 million to $2 million for employee severance pay.
Copyright 2009 by The Associated Press. All Rights Reserved.
Comments Terms of Use: We welcome your participation in our community. Please keep your comments civil and on point. You must be at least 13 years of age to post comments. By submitting a comment, you agree to these
Terms of Service
You must be logged in to leave a comment. Login or register See all comments |
