Coastcast Announces Reduction in Workforce at Rancho Dominguez Facility.Business Editors RANCHO ran·cho n. pl. ran·chos Southwestern U.S. 1. A hut or group of huts for housing ranch workers. 2. A ranch. DOMINGUEZ, Calif.--(BUSINESS WIRE)--May 8, 2001 Coastcast Corp. (NYSE NYSE See: New York Stock Exchange :PAR) today announced that the process of transferring casting of steel golf clubheads to the plant it established in Tijuana, Mexico, more than two years ago is near completion. The company's plant in Rancho Dominguez will reduce its workforce by approximately 120 employees within the next 60 days, suspend almost all manufacture of steel clubheads, and continue to produce investment-cast orthopedic implants and surgical tools. Coastcast will continue to manufacture titanium titanium (tītā`nēəm, tĭ–) [from Titan], metallic chemical element; symbol Ti; at. no. 22; at. wt. 47.88; m.p. 1,675°C;; b.p. 3,260°C;; sp. gr. 4.54 at 20°C;; valence +2, +3, or +4. golf clubheads in its facilities in Gardena, Calif., and finish golf clubheads in its plants in Mexico. Hans Buehler, chairman and chief executive officer, said: "We developed the plan to shift steel clubhead production to Mexico in order to compete with Far East companies with lower labor rates. We will continue to produce orthopedic implants and titanium golf clubheads, which also are labor intensive Labor Intensive A process or industry that requires large amounts of human effort to produce goods. Notes: A good example is the hospitality industry (hotels, restaurants, etc), they are considered to be very people-oriented. See also: Capital Intensive, Trading Dollars but technically more demanding, and limited steel golf clubhead products, in California. The finishing of all our golf clubheads has been in Mexico for many years and will remain there." Coastcast, a leading manufacturer of golf clubheads, produces metal woods, irons and putters in a variety of metals, including stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. and titanium. Customers include Callaway (including Odyssey Odyssey (ŏd`ĭsē): see Homer. Odyssey Homer’s long, narrative poem centered on Odysseus. [Gk. Lit.: Odyssey] See : Epic Odyssey ), Cleveland, Cobra, Ping and Titleist. The company also manufactures a variety of investment-cast orthopedic implants and surgical tools and other specialty products that are made to customers' specifications. |
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