A supplier of sealing and fluid handling systems plans to shut down a plant in Northwest Ohio, company officials announced.
Cooper Standard officials told WTOL-TV in Toledo that operations are expected to wind down at its Bowling Green facility by the end of next year, and that about 175 workers would be affected by the closure. The work performed at the plant — and the equipment at the site — will reportedly be relocated to other Cooper Standard locations.
“In today’s dynamic market, Cooper Standard must continually analyze plant utilization and cost structure to optimize our manufacturing footprint and overall operating efficiency,” the company told the network in a statement. “As a result, the company made the difficult decision to close our Bowling Green, Ohio, facility.”
Cooper Standard last week posted a $33.3 million net loss in the first quarter of the year, the station noted, as well as disclosed charges tied to restructuring.
The company, based in suburban Detroit, provides sealing and fluid handling solutions to the transportation and industrial markets. It employs about 22,000 people across operations spanning 20 countries.
