News

What To Consider When Closing An Automotive Manufacturing Plant

Many auto man­u­fac­tur­ers have and will be faced with the chal­lenge of clos­ing an auto­mo­tive man­u­fac­tur­ing plant. No mat­ter what the size or scope of the clo­sure, the per­son tasked with clos­ing the facil­ity faces a daunt­ing task as mil­lions of dol­lars in real estate, pro­duc­tion equip­ment and sys­tems will need to be rede­ployed, sold or dis­posed of. Max­i­mize asset value while min­i­miz­ing poten­tial risks As soon as a plant clos­ing is con­firmed it’s imper­a­tive that you take some first steps that will serve as the basis for the project includ­ing: for­ma­tion of a clos­ing team, devel­op­ment of a plan for rede­ploy­ment or sale of items, estab­lish­ment of a bud­get and time­line (with absolute dead­line), and com­plete an inven­tory of the facility. In order to develop a clo­sure plan, the team should under­stand the cur­rent sit­u­a­tion in the plant, includ­ing what con­di­tion the equip­ment is and where it will prove to be most valuable.


Read the Article

Sign up for news and tips like this, straight to your inbox