Bodycote to Close a Total of Four Facilities
In addition to closing its Lansing, Mich., facility, Bodycote plans on closing three more facilities by the end of January 2007. Bodycote will close two factories in the English Midlands and its facility in Maple Heights, Ohio. The plant closures in the United States will lead to some transfer of equipment and sales to other locations. In England, the majority of sales and a significant amount of equipment will be transferred to other facilities.
Bodycote expects the closures to cost the company 5 million pounds this year, although asset realizations are expected to exceed that. Margins for the United Kingdom and North America are expected improve by more than 1% as a result of these closures.