On August 2, 2011, according to Reuters, Navistar , a commercial vehicle and diesel engine manufacturer, is working to shut down idle plants and restructure other businesses, which would mean savings of US$30 million per year in the future; The employee will be fired.
Navistar's truck and engine maker said it will close its truck manufacturing plant in Ontario. The factory's employees have been unemployed for two years. This is because the company has negotiated with the Canadian Automobile Workers Association but cannot reach any agreement. The company plans to close its Union City, Indiana-based chassis plant, which will result in the layoff of 225 workers. Navistar will merge its business into other plants.
Chatham's production has been taken over by Navistar's other truck plants. Company spokesperson Karen Denning said that Navistar will significantly reduce the size of its leisure car factory in Monaco and its trainer factory in Coburg, which will cause about 450 workers to lose their jobs.
Navistar expects that the restructuring plan and the asset impairment associated with Chatham will result in losses of approximately $100 million to $300 million. The company expects to save 20 million to 30 million U.S. dollars annually after the rectification.
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