Timkin idles plant as demand drops
March 17th, 2009
ST. THOMAS, Ont.–Timken Canada is idling its St. Thomas plant in Southwestern Ontario for the next two weeks, affecting 355 workers.
The company says the shutdown is due to the struggling economy and a lack of orders for its bearings, which are used by automakers.
The company has also offered its St. Thomas employees early retirement and workers have until March 20 to accept the deal no fax needed payday loans.
A spokesperson wouldn’t say yesterday if layoffs could soon follow.
The company announced 48 layoffs in November and has previously shut down due to a lack of orders.
The Canadian Press
Filed under: technology by Finance Boss