Facing crippling losses, supplier trims loss-making sites and offloads stocks
TOKYO — Japan’s Akebono Brake Industry will consider shutting as many as three plants in the U.S. and Europe as part of a plan to recover from soured North American operations.
The brake supplier, which owns 18 plants globally, will shrink capacity at a number of money-losing production sites in the two regions. Factory closures are also on the table. Staff at the affected plants will be cut or reassigned.
Akebono and its creditors will discuss the turnaround proposals during meetings scheduled for Monday and June 11.
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