Hayes Lemmerz International Inc. will close its Somerset, KY, cast aluminum wheel plant by early April. Hayes Lemmerz says the move is in line with continuing efforts to eliminate excess cost and underutilized capacity. Work will be transferred to other Hayes Lemmerz facilities.
Turnaround specialist Questor Management Co. of Southfield, MI, and its associated funds will acquire Aetna Industries Inc. of Center Line, MI, and Zenith Industrial Corp. of Roseville, MI, both of which have filed to reorganize under Chapter 11 bankruptcy. Both companies produce automotive stampings, with combined sales of $325 million, but have been struggling with excessive debt.