US – The production and warehouse facility in Tigard, with a workforce of 80 personnel, currently produces interior trim components such as instrument panels and storage cabinets for large commercial vehicles (CVs). The majority of this work will be transferred to other Commercial Vehicle Group (CVG) locations in North America when Tigard closes by the end of the year.
The company expects restructuring charges of approximately $3.2-3.5m in the aggregate between March and December 2014; the annualised savings are predicted to be $1.5-2.5m.
“Many of our customers, serviced by our Tigard facility, have transitioned their businesses to other geographic regions,” commented Patrick Miller, president Global Truck & Bus for CVG. “In order to remain competitive, CVG must continually re-evaluate market requirements and realign our capacity and manufacturing footprint.”