Slumping U.S. automotive sales are forcing Bristol aerospace and automotive parts maker Barnes Group Inc. to close a second auto-parts plant in North America.
Barnes will shut its Associated Spring plant in Burlington, Canada, idling an unspecified number of workers, Barnes spokesman Brian Koppy said today.
Earlier this year, Barnes idled a second plant in Monterrey, Mexico. Both produced engine valve springs and Barnes will complete the move of their operations and equipment to its other U.S. production plants by next March.
In a regulatory filing today, Bristol said pre-tax charges for the Burlington closing will be about $5.8 million. Approximately $2.7 million of the closing cost will be entered on its accounting records in 2009 and the rest in 2010, the company said.
Closing the Monterrey facility will cost Barnes about $1.2 million, of which $400,000 will be booked in 2009 and the rest next year.
Koppy said the company has no additional closings or layoffs slated, adding that Barnes continues to evaluate the performance of its businesses against market conditions.
