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Nemak announces closure of operations in Windsor, Canada by mid-2020
Windsor, Ontario. Canada. July 16, 2019. - Nemak, S.A.B. de C.V. ("Nemak") (BMV: NEMAK), a leading provider of innovative lightweighting solutions for the global automotive industry, announced today its decision to cease manufacturing operations in Windsor, Canada by mid-2020. The plant represents approximately 1% of Nemak’s consolidated revenues.
This decision is a result of the early phase-out of an export program with a customer in China, which is expected to bring capacity utilization at the plant to less than 10% by 2020.
"Given our outlook on capacity utilization and volumes in Windsor, we have made the decision to end production at this facility,” said Armando Tamez, CEO of Nemak. "We are deeply grateful to the many people who have contributed to our business in Windsor over the years and we will make every effort to support them during this period.”The plant has 270 employees and produces engine blocks.
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Nemak is a leading provider of innovative lightweighting solutions for the global automotive industry, specializing in the development and manufacturing of aluminum components for powertrain and body structure applications. The company employs more than 23,000 people at 38 facilities worldwide. In 2018, it generated revenues of US$4.7 billion. For more information about Nemak, visit www.nemak.com