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Article: Summa shuts 4 sites, cuts jobs.
- Article from:
- Plastics News
- Article date:
- April 2, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Summa Industries has closed four manufacturing locations in California and Illinois and cut employment to 808, down from 988 on Aug. 31.
"I think we have done the right things quickly and, by and large, done a good job" of consolidating, James Swartwout, chairman and chief executive officer, said in a telephone interview.
Swartwout sensed unsettled economic conditions in August and September, developed retrenchment plans and began implementation in the wake of a major December slowdown in business.
"No further plant closings or reductions" are projected, he said.
Torrance, Calif.-based Summa reported same-business-unit sales were down ...