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Tecumseh to close plant
May 8, 2003
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Tecumseh Products Co. said it will close its Sheboygan Falls Diecasting Facility by April 30 and that about 250 employees will be affected. The Tecumseh, MI, U.S.-based company said it would not be possible to estimate fully the costs of the shutdown until it negotiates with the union representing employees. But it said asset impairments will be about $4 million and restructuring charges related to the closing will be recognized in the second, and possibly the third quarter of this year. Tecumseh makes hermetic compressors for refrigerators, freezers, water coolers, dehumidifiers, and other equipment. (Reuters)

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