SKF to shutter plant in the U.S., cut workforce in France

Industrial Distribution staff -- Industrial Distribution, 12/18/2007 7:18:00 AM

SKF plans to close a manufacturing plant in the United States and reduce its headcount in France in a move to streamline its operations.

The Swedish bearings manufacturer said it will close its plant in Glasgow, Ky., and relocate its operations to its plant in Puebla, Mexico. SKF said the move is necessary to stay competitive in the American automotive market.

In France, the company said it will cut its workforce at its Fontenay-le-Comte facility.

The moves, which will cost roughly $55 million, are aimed at saving about $18.3 million a year after they are completed in 2010.

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another indication we have not lear....
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