GKN Sinter Metals to Close Plant
GKN Sinter Metals plans to close its 158,000-square-foot automotive PM parts plant in Worcester, Mass., by the fall of 2007. GKN purchased the business, formerly known as PresMet Corporation, in 2001. According to GKN, the decision to close the plant, which employs about 150 people, was based on overcapacity in North America and loss of volume. GKN, a leading producer of precision powder metal components, has closed three PM parts plants in Michigan during the past three years.