Friday, July 31, 2015
Current Weather
Loading Current Weather....
Published: Wednesday, 4/9/2003

Tecumseh Products to close Georgia plant

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.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.