Oxford Automotive will close its stamping facility in Masury, Ohio by the end of October 2003. The closure is the result of overcapacity in the North American light vehicle market and is part of the company’s overall effort to cut costs.
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The Masury facility employs 130 full-time people and is a producer of stampings for a variety of automotive applications. Some Equipment may be moved to other Oxford locations throughout North America.
“Actions such as these are never easy to take, but are necessary because of the highly competitive nature of the automotive industry,” said Forrest Hayford, President of Oxford’s North American Operations. “But we must take these steps to better balance our production capacities with our customer needs.”
Employees have been advised of the closure and Oxford will provide ‘outplacement’ services.
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