Thursday, January 24, 2008

Superior Essex closing in Vincennes

Inside INdiana Business reports on a plant closing in Vincennes:

Superior Essex Inc. (NASDAQ: SPSX) says it will close its Vincennes facility as part of a restructuring. The magnet wire manufacturer expects the operations to be phased out by the fourth quarter of this year. The company will instead invest and expand facilities in Tennessee and Mexico. Superior Essex says it expects to save up to $9 million annually through the restructuring. In 2005, the company employed about 200 union workers.

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