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Reply #55: HNI Corp. (office furniture maker) closing 2 plants (Wash and Cal) [View All]

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UpInArms Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 09:16 AM
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55. HNI Corp. (office furniture maker) closing 2 plants (Wash and Cal)


HNI also said it has begun the shutdown of two office furniture facilities in Kent, Washington, and Van Nuys, California, to simplify its business and reduce costs. Production will be consolidated in other U.S. manufacturing plants, and the company took a third-quarter pre-tax charge of $1.3 million, or 2 cents a diluted share related to the shutdowns.

It expects to take another $2.2 million pre-tax charge in the fourth quarter related to the restructuring and that the restructuring will be completed in the first quarter.

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