Collins & Aikman report Q3 loss

Automotive interior parts supplier Collins & Aikman reported a net loss of $55.6 million on revenue of $864.8 million for the quarter ending Sept. 30. Company officials said the loss was a result of a combination of production cuts, high raw material costs and restructuring costs. The loss exceeds the loss of $32 million the company reported for Q3 last year.
Collins & Aikman has recorded $61.7 million in after-tax charges as part of its debt retirement program this year. The company operates numerous manufacturing plants in Ontario and Quebec.