Altec Lansing Unaffected by Mark IV Restructuring

Article excerpt

Plans by Mark IV Industries to close all or portions of its U.S. and European locations is not expected to impact the company's Oklahoma City subsidiary, Altec Lansing Corp.

The restructuring, a part of a realignment and refocusing of the company's operations, is expected to result in the elimination of 1,000 jobs -- or 6 percent -- of Mark IV's workforce.

Mark IV announced Wednesday it will close 12 of its manufacturing and distribution facilities in the United States and Europe in order to eliminate redundancies and to serve its global customer base more effectively. The closings "will have no impact" on the Oklahoma operations, according to Sal H. Alfiero, chairman and chief executive officer. "The restructuring represents a major step forward in refocusing our operations to quickly and efficiently meet changing customer and competitive demands, while enabling the company to more fully employ its physical and human resources," Alfiero said. "It is essential that we become the low-cost producer in our various markets, regardless of where in the world we operate and whatever we manufacture. This restructuring effort continues our commitment to achieve this goal," he said. The plant closings, including some in North Carolina and Missouri, will eliminate 1 million square feet of unnecessary manufacturing and warehouse space, the company said. Mark IV's remaining plants each will concentrate solely on either automotive or industrial products and some low-profit product lines will be eliminated, according to the company. The majority of the restructuring will be completed within 12 to 18 months, said Sharlene Vogler, director of investor relations. …


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