American Machinist is reporting Navistar plans to close an operation in the Chicago suburbs, causing 250 to lose their jobs:
Navistar International plans to close its Melrose Park, Ill., operation and sell the location to a developer. The engine and truck builder will reassign half the workforce there (reported to be 250 employees) as a result, — meaning 250 workers will be laid off as a result of the sale.
The value of the sale was not announced, but Navistar noted the unnamed developer has a plan to redevelop the property. The sale and closure will cost Navistar approximately $85 million it said, including approximately $40 million in cash.
“Given changes at Navistar and in the industry, it no longer makes sense to maintain a facility of that size,” stated Phil Christman, president of operations for Navistar. “Further investment in the Melrose Park property would divert substantial resources away from investments in new technologies and products.”
More HERE.
