Volvo Global Trucks announced a reorganization in response to the depressed North American market. Volvo will close its Winnsboro, S.C., plant and consolidate North American support functions to eliminate duplication of effort between Volvo Trucks North America (VTNA) and Mack Trucks, Inc. The Winnsboro facility will be phased out and transferred to the New River Valley Va., facility -- and remain Mack-branded. Mack and VTNA will maintain two separate headquarters, each with its own management.
Gehl Co. said it will streamline operations which includes closing its manufacturing facility in Lebanon, Pa., as well as moving manufacturing of the Mustang line of skid-steer loaders from Owatonna, Minn., to its recently expanded skid-steer facility in Madison, S.D. Mustang sales and marketing personnel will remain headquartered in Owatonna, as will a transitionary engineering group. The company also said that a sale of the company at the present time is not in the best interests of the shareholders
Grove Worldwide, said that the company has consummated its plan of reorganization which was approved by the bankruptcy court on Sept. 14, 2001. Grove has, among other things, commenced payments to its pre-petition, unsecured creditors. According to the provisions of the plan, the company will pay 100 percent of allowed pre-petition claims to this class of creditors.
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