okiemom
01-28-2006, 07:17 AM
Planned sale may affect ArvinMeritor
Written by: Laura McKay
Yesterday, Jan. 26, ArvinMeritor announced a $3 million operating loss for the first three months in fiscal 2006 for light vehicle systems.
By the end of September, ArvinMeritor expects to sell off all light vehicle production plants, including the one in Chickasha.
The deadline to sell the plants provides finality to the topic of divestment, which has been discussed since 2004. The company reports that several buyers have shown interest in purchasing the light vehicle production plants.
If the Chickasha plant is sold, there is a possibility production could decrease, cease or even increase depending on the preferences of the new owner.
Currently, the company maintains packaging, distribution, receiving, returns processing, design engineering and rod manufacturing operations at the Chickasha facility.
The potential sale of the company’s light vehicle production plants came on the heels of a partial closure of the Chickasha plant. In September, ArvinMeritor announced its plan to move the majority of its operations from the Chickasha facility to its plant in Queretaro, Mexico. As a result of the decision, 270 employees lost their jobs.
Written by: Laura McKay
Yesterday, Jan. 26, ArvinMeritor announced a $3 million operating loss for the first three months in fiscal 2006 for light vehicle systems.
By the end of September, ArvinMeritor expects to sell off all light vehicle production plants, including the one in Chickasha.
The deadline to sell the plants provides finality to the topic of divestment, which has been discussed since 2004. The company reports that several buyers have shown interest in purchasing the light vehicle production plants.
If the Chickasha plant is sold, there is a possibility production could decrease, cease or even increase depending on the preferences of the new owner.
Currently, the company maintains packaging, distribution, receiving, returns processing, design engineering and rod manufacturing operations at the Chickasha facility.
The potential sale of the company’s light vehicle production plants came on the heels of a partial closure of the Chickasha plant. In September, ArvinMeritor announced its plan to move the majority of its operations from the Chickasha facility to its plant in Queretaro, Mexico. As a result of the decision, 270 employees lost their jobs.