Alcoa to Close Northwood, Ohio Facility.PITTSBURGH -- Alcoa today announced that it will close its Northwood, Ohio For the unincorporated village in Logan County, see . Northwood is a city in Wood County, Ohio, United States. The population was 5,471 at the 2000 census. History Northwood was originally Ross Township. automotive components facility by the end of 2004 due to excess capacity. The company will continue to service automotive customers with products that enhance the performance, safety, comfort and convenience, and styling of its customers' vehicles. The closing will impact approximately 140 employees. "The decision to close this facility was a difficult one and in no way reflects negatively on the efforts of our dedicated workforce," said Eric Winter Eric Winter (born July 17, 1976 in La Mirada, California) is an American actor. He attended and graduated from UCLA with a degree in Psychology. He is best known for playing the role of Rex Brady on the daytime soap opera Days of Our Lives. , vice president, Operations & Engineering for Alcoa Advanced Transportation Systems (AATS AATS American Association for Thoracic Surgery AATS Ames Airborne Tracking Sunphotometer AATS Alternate Aircraft Takeoff System AATS Anti Aircraft Target System AATS Aircrew/Aircraft Tasking System AATS Audit Action Tracking System ). "Unfortunately, the excess capacity in our system and the specific capabilities of this facility made this move necessary. "Alcoa has aggressive growth objectives for AATS and remains committed to develop technologies and solutions for the automotive and commercial transportation industry. We are working with our customers to insure supply and service is not impacted during this consolidation," said Winter. Impacted employees will receive outplacement out·place·ment n. The process of facilitating a terminated employee's search for a new job by provision of professional services, such as counseling, paid for by the former employer. packages, which include severance and benefits continuation, to be negotiated with bargaining unit A bargaining unit in labor relations is a group of employees with a clear and identifiable community of interests who are (under U.S. law) represented by a single labor union in collective bargaining and other dealings with management. where applicable. Alcoa will incur pre-tax charges of approximately $7.0 million related to the closure of the facility, of which approximately $3.0 million will be recorded in the 2004 third quarter. The company will work with community and state officials to ease the impact of the closing, including working to find a buyer for the facility that could retain jobs locally. Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) foils and plastic wraps, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are vinyl siding Wikipedia is not the place for advertisement or self-advertising. Vinyl siding, first introduced to the exterior cladding market in the late 1950s, is an alternative to aluminum siding, fiber cement siding, and timber siding. , closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 120,000 employees in 42 countries and has been a member of the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. for 45 years and the Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance Sustainability Indexes since 2001. More information can be found at www.alcoa.com |
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