German car parts maker Continental AG’s North American tyre unit CTNA is to close completely its Mayfield, Kentucky, mixing plant in around six months with the loss of 150 hourly and salaried job.
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Continental ended tyre production at Mayfield at the end of 2004, Reuters noted.
“Due to escalating costs for energy and raw materials coupled with declining demand for certain original equipment products, today [Wednesday 2 August] we are announcing our intention to close the Mayfield plant,” group finance chief and CTNA president Alan Hippe said in a statement cited by the news agency.
He added the move was “part of our ongoing efforts to restructure our North American passenger and light truck tyre operations in order to further reduce manufacturing costs”, according to Reuters.
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