Losses mount at towing equipment maker Miller

Losses mount at towing equipment maker Miller

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CHATTANOOGA (AP) - Towing equipment maker Miller Industries is reporting mounting losses from a new product line in Greeneville.

The Chattanooga Times Free Press reports that the company has also made a leadership change in naming William Miller II as the co-chief executive officer alongside the existing CEO, Jeff Badgley.

Miller said it expects to lose $1 million in the fourth quarter from its Delavan brand of large trailers. The Chattanooga-based company spent $1.8 million to add the Delavan line at its Greenville plant in August, adding 58 jobs.

Now, Miller says it is cutting back on Delavan production, which is a joint venture with the Lohr Group, a French transportation company.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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