Noblesville, Indiana -- Firestone Industrial Products Company LLC said it has issued a notice of potential closure for its Noblesville, Indiana, air springs facility.
The notice was delivered to representatives of the United Steelworkers union and expressed willingness to enter into good faith negotiations regarding the potential closure, Firestone Industrial Products said.
The company said the air springs market is increasingly global, making it difficult to compete. Firestone is the only US manufacturer of air springs, the firm said, and the Noblesville plant has incurred "substantial losses."
President Mike Cerio cited "aging equipment, the world's highest wage and benefit structure and a mature domestic market" as the primary issues plaguing the plant.
Firestone has six months to negotiate with the union, the notice said. If the decision is made to close the facility, the closure would probably occur in 2009, Firestone said, though no date is set.
From Rubber & Plastics News (A Crain publication)
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