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News October 05, 2001
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Skyjack Inc

Skyjack Inc. has announced the shutdown of the company's manufacturing facilities will be extended for another six weeks.

The continued shutdowns are intended to further reduce inventories and expenses, and are in response to the continuing economic slowdown. In mid-September, Skyjack extended the shutdown of all of its manufacturing facilities for approximately two to four weeks.

Terex Corp. unveiled plans for restructuring the operations of CMI Corp., which Terex acquired on Oct. 1.

The plan calls for integrating the production of four existing CMI facilities into CMI's Oklahoma City location, as well as other cost reduction initiatives. The plan will reduce personnel by approximately 500 and is expected to generate cost savings in excess of $20 million. The four CMI facilities impacted by the integration are located in Brownwood, Texas, Champaign, Ill., Cedar Falls, Iowa, and Opglabbeek, Belgium.

"The integration of these facilities will improve capacity utilization at the Oklahoma City facilities, which have over 700,000 sq ft of covered space. We also will reduce overhead costs," said Fil Filipov, Terex executive vice president and CMI president. "In spite of today's challenging business environment, we believe there are opportunities to grow the business."

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