Wolverhampton factory to close with 84 jobs axed
Eighty-four jobs are being axed as aerospace firm Timken revealed it will shut its factory in Wolverhampton.
The company, which manufactures bearings, will close its site in Upper Villiers Street, Blakenhall, by the end of 2015 under plans announced by the US-based firm.
Bosses said that the number of orders it was receiving was dwindling because it predominantly supplied parts for older aircraft.
But it will continue to honour its current orders and could take on new work from existing customers until the factory closes next year.
See also: Jobs at risk as Timken site to close.
It is a blow to the city which has been promoting itself as a specialist base for the aerospace industry.
It comes after Caterpillar-run Turner Powertrain Systems on Racecourse Road, Dunstall, announced it was to axe more than 200 jobs.
Timken plant manager Todd Laquerre said: "It is always unfortunate and obviously we announce this with a heavy heart but our production focus has narrowed to a niche of legacy aerospace bearings leaving us with an inability to grow."
See also: Recruitment slashed at Staffordshire County Council.
He added: "I stress these are proposals at this stage and we are speaking with staff and the unions.
"We will honour all existing orders and continue to work with the customers to meet their needs.
"We are in talks and holding discussions with all customers."
What could Wolverhampton Council do to encourage investment and jobs in the area? Leave your comments below.
The company is now in discussion with workers via its staff council and unions over the proposals to make all staff redundant and close the plant.
The Wolverhampton arm of the company can trace its roots back to Fischer Bearings which first came to the city in 1936.
It is also closing part of its operation in Arizona in the United States by the end of the year.
Wolverhampton South East MP Pat McFadden said:"This is very sad news for workers and their families in a constituency that already has high unemployment. The last thing Wolverhampton needs is the loss of 84 manufacturing jobs. I spoke to the company today and they have said it is the result of a global restructuring which also affects a plant in the USA but that is little comfort to the workforce in Wolverhampton."
Richard G. Kyle, Timken president and chief executive said in a statement: "Aerospace has been and will continue to be an important market for Timken.
See also: 200 jobs to go at historic Wolverhampton firm.
"It fits the Timken business model well and we will continue to pursue challenging applications that value our technology and our service.
"While the segment's overall performance has been weak, we expect that the actions we've outlined will improve returns and generate growth going forward.
"We remain committed to creating value for customers in the aerospace industry and are confident that our efforts will improve the strength of our business for both customers and shareholders going forward."
