From AFX News Limited
WASHINGTON -- Proliance International Inc., a maker and marketer of heating and air conditioning parts for cars and trucks, said Thursday that it will close 22 of its 123 branches as part of a restructuring that will involve greater reliance on distribution partners.
The closings are expected to be completed by the end of 2006, at a cost of $500,000 to $600,000, the New Haven, CT-based company said in a filing with the Securities and Exchange Commission.
Of those costs, $200,000 to $300,000 are related to one-time employee termination costs, with the remainder related to relocation of inventory and closure of facilities.
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