NEW ALBANY, Ohio – Commercial Vehicle Group Inc. (CVGI), supplier of fully integrated system solutions for the global commercial vehicle market, has announced plans to permanently close its production and warehouse facility located in Tigard, Ore.
The Tigard plant currently has approximately 80 employees who will be offered transition support and/or opportunities at other CVG plants. The company also will petition for assistance for affected employees under the Department of Labor Trade Adjustment Assistance Program (TAA).
The work currently performed at the Tigard facility includes the production of interior trim components such as instrument panels and storage cabinets used in large commercial vehicles. The majority of this work will be distributed to other CVG plants in North America. The closure is expected to be complete by the end of December 2014.
The company says it anticipates taking restructuring charges of approximately $3.2 million to $3.5 million, in the aggregate, between March and December of 2014. The annualized savings from this action are expected to be in the range of $1.5 million to $2.5 million.
