Goshen News, Goshen, IN

Business

October 20, 2012

Goshen's Cequent Performance may shut its doors

Final decision to be made in November; As many as 450 jobs are in jeopardy

GOSHEN — A local manufacturing company may shut its doors soon.

TriMas Corporation, parent company of Goshen’s Cequent Performance Products, has reached a preliminary recommendation to shut down the Goshen plant, according to TriMas spokesperson Alan Upchurch.

“This is just a preliminary recommendation,” Upchurch said. “The final decision will be made sometime in mid to late November.”

Upchurch said the Goshen business employs about 450 people. While some of those may be able to transfer to another plant, he was not sure how many or when.

“Every year, the company evaluates growth plans,” Upchurch said. “In the evaluation, they saw the need to make changes to make the business more competitive, which is why there is the preliminary recommendation.”

Employees of Cequent were informed of this recommendation Thursday, according to Upchurch.

According to TriMas’ website, the parent company had net sales of $1.084 billion in 2011, with 35 percent of those sales coming from Cequent North America, of which Goshen’s plant is a part of. The 2011 net sales were the highest figures for TriMas since 2008, according to the website.

In 2011, Cequent North America had $383.7 million in revenue, according to the website.

“Cequent, which includes Cequent Asia Pacific and Cequent North America segments, is a market leader in the design, manufacture and distribution of a wide variety of high-quality, custom-engineered towing and trailer products,” the website’s company description states. “This group serves several markets, including original equipment, aftermarket and retail customers in the agricultural, utility, marine, military, trailer, industrial, recreational vehicle and automotive markets. Products include: heavy-duty towing products, trailer structural and electrical components, jacks, couplers, brake controls, vehicle roof racks, cargo management products, tow bars, protection/securing systems and other accessories.”

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