A New Albany-based manufacturer is closing an Ohio production facility.
Commercial Vehicle Group will close its Chillicothe operation at 75 Chamber Dr. this summer, according to a WARN notice filed with the state.
The move will result in the elimination of 79 jobs. Employees were notified this week.
The company, in the notice, said there was a “significant and ongoing” decline in orders to that facility and that it is consolidating its manufacturing network.
“The decision to close Chillicothe and reduce our workforce was difficult given the skills and commitment of the employees at the site,” Commercial Vehicle Group said in a separate statement.
It is providing transition assistance to affected employees as well as a financial incentive package for employees who remain at the Chillicothe facility until the final day of production in August. It also said it is working with the local resources in that community to further assist impacted workers find other employment.
Commercial Vehicle Group (Nasdaq: CVGI) makes a variety of vehicle components including electrical harnesses, seating systems, mechanical assemblies, plastic products and more for customers in a variety of industries including automotive, military, agriculture, transportation and mining.
The company last December named a new CEO in James Ray.
Commercial Vehicle Group posted revenue of $246.7 million in its most recent quarter, which ended Sept. 30. That was down 1.9% compared with the same period in 2022. Net income was $7.3 million, or 22 cents a share, which had doubled from the comparable quarter.
As of Dec. 31, 2022, the company had approximately 8,000 employees, about 80% of whom are in international operations. The company has facilities in the United States, Mexico, China, United Kingdom, Belgium, Czech Republic, Ukraine, Thailand, India and Australia.
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