Decoma to close Concord plant
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Decoma International announced it will close its Anotech anondizing plant located in Concord, ON in 2005 in order t...
Decoma International announced it will close its Anotech anondizing plant located in Concord, ON in 2005 in order to reduce costs. The plant, which specializes in the process of hardening aluminum, will shut down in the second quarter of 2005, at a cost of about $20 million, according to a report by Automotive News.
Decoma, a subsidiary of Magna International Inc, will transfer Anotech operations to higher to in Mytox and Rollstamp, ON. The company declined to comment about how many of the 400 employees at the Anotech plant would be affected by the closing.
Decoma, a manufacturer of automotive exterior systems, posted $2.42 billion in sales in 2003, up from $2.13 billion in 2002, but saw its net profit decline from $93 million in 2002 to $71.9 million in 2003.
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