TECUMSEH - Tecumseh Products Co., a maker of small engines for compressors and lawn mowers, said yesterday it will close its Douglas, Ga. engine factory in June, ending 550 jobs.
The closure is part of a corporate move to shift production overseas where costs are lower. Equipment from the factory will be moved to plants in the United States and a new factory in Brazil. The firm estimates the action will result in a one-time charge against earnings in the second quarter of $19 million to $23 million.
Tecumseh's stock closed $1.09 higher yesterday at $43.10 in Nasdaq trading.
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