Canada markets closed
  • S&P/TSX

    19,062.91
    +345.79 (+1.85%)
     
  • S&P 500

    3,911.74
    +116.01 (+3.06%)
     
  • DOW

    31,500.68
    +823.32 (+2.68%)
     
  • CAD/USD

    0.7759
    +0.0064 (+0.83%)
     
  • CRUDE OIL

    107.06
    +2.79 (+2.68%)
     
  • BTC-CAD

    27,597.02
    +354.12 (+1.30%)
     
  • CMC Crypto 200

    462.12
    +8.22 (+1.81%)
     
  • GOLD FUTURES

    1,828.10
    -1.70 (-0.09%)
     
  • RUSSELL 2000

    1,765.74
    +54.06 (+3.16%)
     
  • 10-Yr Bond

    3.1250
    +0.0570 (+1.86%)
     
  • NASDAQ

    11,607.62
    +375.43 (+3.34%)
     
  • VOLATILITY

    27.23
    -1.82 (-6.27%)
     
  • FTSE

    7,208.81
    +188.36 (+2.68%)
     
  • NIKKEI 225

    26,491.97
    +320.72 (+1.23%)
     
  • CAD/EUR

    0.7347
    +0.0040 (+0.55%)
     

NFI Group closing factory in Pembina, N.D., as part of cost-cutting plan

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

WINNIPEG — NFI Group Inc. says it is closing a factory in Pembina, N.D., later this year as part of a new cost-cutting plan.

The company says the Motor Coach Industries manufacturing facility is expected to close in the fourth quarter of this year.

Brian Dewsnup, acting president and chief executive, says the closure follows a detailed review of the company's manufacturing footprint.

NFI also said it will integrate its Delaware parts distribution facility into its existing NFI Parts footprint.

Last month, NFI cut its revenue forecast for the second time in seven months, citing a global shortage of microprocessors.

The Winnipeg-based company said it is working with alternative suppliers but expected it will need to lower production at some plants.

This report by The Canadian Press was first published May 20, 2022.

Companies in this story: (TSX:NFI)

The Canadian Press

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting