Textron To Close Precision Components Plant
Textron To Close Precision Components Plant
Jason Sandefur
Textron Fastening Systems Inc. announced a second plant closing in Rockford, IL, laying off 250 workers beginning in June. Textron spokesman Tim Weir told FIN that a Precision Components division plant will be closed by the end of 2003 as part of parent company Textron Inc.�s global restructuring program that began in October 2000. Textron Fastening Systmes plans to move production to its 200,000 sq ft facility in Decorah, IA, adding about 150 jobs at that location. In February Weir announced that the company would close its Syntek Products plant in Rockford, eliminating 100 jobs and shifting production to Mexico and China. The closures are part of Textron�s efforts to consolidate production to remain competitive, Weir stated. Troy, MI-based Textron Fastening Systems has 11,000 employees worldwide. Web: textronfasteningsystems.com �2003 FastenerNews.com
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