Timken shutting plant in St. Thomas, Ont.
ST.THOMAS, Ont. - Auto parts producer Timken Co. (NYSE:TKR) says it is closing a plant in St. Thomas, Ont. in about a year, which will result in job losses for some 150 active employees.
The Ohio-based maker of bearings for transport trucks and other vehicles says production will be transferred over the next year to its operations in Ohio, as well as North and South Carolina.
It adds that customer service for the Canadian market will be moved to its offices in Toronto.
Timken says that changes to its customer base have been accelerating recently, which has lowered demand for the products made in St. Thomas.
The plant, built in 1946, is the latest closure in the area, where the local economy has been hard hit by a slowdown in manufacturing.
Ford of Canada shut down an assembly plant in the town in September, 2011, putting some 1,200 employees out of work.
A 1967 Shelby GT500 Super Snake sold for $1.3 million. Do you think classic cars were made better than modern rides?
Thanks for being one of the first people to vote. Results will be available soon. Check for results
- Yes, the quality of cars from the 1960s and '70s is the best
- No, modern technology makes cars better today
- Maybe, it's hard to say since most Canadians get a new car every 10 years