Hayes Lemmerz International (MM) (NASDAQ:HAYZ)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Hayes Lemmerz International (MM) Charts. Click Here for more Hayes Lemmerz International (MM) Charts.](/p.php?pid=staticchart&s=N%5EHAYZ&p=8&t=15)
Hayes Lemmerz Announces Plant Restructuring Plans
NORTHVILLE, Mich., April 1 /PRNewswire-FirstCall/ -- Hayes Lemmerz
International, Inc. today announced a manufacturing rationalization plan for
its North American Wheel Group which will significantly lower operating costs
and increase facility utilization.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010522/HLILOGO )
As a result, Hayes Lemmerz will permanently close its Howell, Michigan
manufacturing facility and transfer that plant's production to other
manufacturing facilities in the U.S.
The plant currently employs approximately 180 people, including hourly and
salaried staff, who manufacture aluminum wheels for domestic automotive
customers. Company officials are meeting today with plant employees to discuss
the closure plans.
"This has been a difficult but necessary decision for the Company and we regret
the effect it will have on our employees, their families and the Howell
community," said Curtis Clawson, Chairman and CEO. "We have determined that
this was the most effective course of action to better align our available
capacity with the market, and make our overall cost structure more
competitive."
James Stegemiller, President of Hayes Lemmerz' North American Wheel Group, said,
"The closure is a result of industry-wide overcapacity and is not a reflection
on the workforce or management team in Howell. However, changes in business
conditions have made it necessary to reduce the number of our facilities in
order to reduce costs, improve efficiencies and capacity utilization, and
thereby optimize our North American Wheel business."
Hayes Lemmerz International, Inc. is a world leading global supplier of
automotive and commercial highway wheels, brakes, powertrain, suspension,
structural and other lightweight components. The Company has 44 facilities and
over 11,000 employees worldwide.
More information about Hayes Lemmerz International, Inc., along with a list of
current and archived press releases,is available at
http://www.hayes-lemmerz.com/ .
http://www.newscom.com/cgi-bin/prnh/20010522/HLILOGO
DATASOURCE: Hayes Lemmerz International, Inc.
CONTACT: Marika Diamond of Hayes Lemmerz International, Inc.,
+1-734-737-5162
Web site: http://www.hayes-lemmerz.com/