NEW YORK Seco Tools Inc. will lay off 20 people at its Troy, Mich., site as part of Swedish industrial conglomerate Sandvik ABs recently announced restructuring, a spokesman for parent company Seco Tools AB told AMM.
The closure of Sandviks Troy distribution center led to the layoffs, he said. Product is now being sourced from the Sandvik Machining Solution distribution center in Kentucky.
However, the site will remain as the headquarters for the North American operations.
"We will continue to do business the same way as before, working close to our customers and deliver(ing) value and savings for them. Nafta is a key market for Seco, and we will continue to grow the business as we have been doing successfully (in past) years," the spokesman for Fagersta, Sweden-based Seco Tools said. No further changes are planned at Secos U.S. operations, he added.
Stockholm-based Sandvik announced 950 job cuts worldwide as part of a cost-saving effort (amm.com, Dec. 3).