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).