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March 31, 2008
West Lafayette furniture-maker to lay off 150
By Tom Spalding
tom.spalding@indystar.com
West Lafayette-based commercial and residential furniture maker Chromcraft Revington, continuing to fall on hard times, today said it will lay off 150 workers in Delphi as it outsources manufacturing to Asia.
Chromcraft executives made the announcement on the same day they reported net losses for the fourth quarter at $8.3 million or $1.84 per share, compared to losses of $700,000 or 17 cents per share at this time last year.
For the 2007 year, the company lost $14.9 million or $3.30 per share, compared to a loss of $3.4 million or 77 cents per share for 2006. The company blamed a weak retail environment and the bankruptcy of a significant customer.
Manufacturing activities at the Delphi facility will cease May 30 and the company says it will sell the equipment inside and use the interior for warehousing.
The work done in that building will be outsourced to Asia, said Chairman and CEO Ben Anderson-Ray.
In the past 18 months, Chromcraft Revington has closed and sold its plants in Sumter, S.C. and Warrenton, N.C., and a warehouse in Knoxville, Tenn.
The company says it will retain headquarters in West Lafayette. It employs 550.