USA: Tower Automotive to relocate pickup frame production
Automotive parts maker Tower Automotive said on Tuesday it will relocate production of high-volume frame assemblies for the Ford Ranger pickup truck to Bellevue, Ohio from Milwaukee, affecting 250 jobs, Reuters reported. The relocation, expected to be completed by June 2004, will result in pretax charges of $US40 million to $50 million, or 47 cents to 59 cents, over the next 12 months and save about $10 million cash annually, Tower said, according to Reuters.
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