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Flexsteel to close vehicle seating plant

By Furniture Today Staff -- Furniture Today, December 2, 2001

DUBUQUE, Iowa — Furniture producer Flexsteel Inds. will close a vehicle seating plant in Elkhart, Ind., consolidating production into its New Paris, Ind., facility.

Bruce Lauritsen, president and chief executive officer, said the move was necessary because of the economic slowdown and weak business in vehicle seating, especially van conversions and travel trailers.

Flexsteel estimates the closing will result in net restructuring costs and potential asset impairments of about $640,000 or 10 cents per share. The move will affect 84 employees, including 32 laid off previously, although many are expected to be offered jobs in New Paris as production shifts there and vehicle seating demand improves in the spring, Lauritsen said.

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