Therma-Tru to Shut UK Plant, New President Takes Reins
Citing overall market conditions and a comprehensive review of its United Kingdom business, Therma-Tru has announced its intention to close a 52,000-square-foot facility it operates in Wales. More than 150 jobs will be eliminated as a result of the closure.
“While we have made considerable progress with rigorous cost-cutting and operational improvements over the past year, the outlook for the long-term viability of the business remains poor,” Carl Hedlund, president and CEO, told BBC News. “Even with rigorous cost controls, operational improvements, and exiting money-losing channels, the business continues to deliver negative rates of return.”
In other company news, David Randich was named president and will succeed Hedlund, when he retires at the end of the year.