NOVI, MI — In an effort to improve efficiency and reduce costs, Tower Automotive is closing its facilities in Belcamp, Md., Bowling Green, Ky., and Corydon, Ind. The plants are expected to close by June 30. As a result of the changes in Corydon, Tower will reduce headcount at its Granite City, Ill., facility as well. In all, approximately 800 employees will be affected by the closures.
Bill Pumphrey, president of Tower’s North American operations, said, “Closing facilities and reducing headcount are always very difficult decisions to make. However, as we go through our restructuring process, we must take all necessary actions to make Tower the most efficient and competitive company possible. We believe that the actions announced today will have a positive impact on our business going forward.”
Tower said it will continue to examine its operations and may make additional changes if they are determined necessary.
Pumphrey continued, “We are pleased that our financial restructuring process is proceeding very much as expected. Tower has a fundamentally solid business, and we continue to expect that Tower will emerge from this process as a stronger competitor.”
For more information about Tower Automotive, go to: www.towerautomotive.com.
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