Tower Automotive to relocate frame assembly

Newswire

CHICAGO, May 27 (Reuters) - Auto parts maker Tower Automotive Inc. said on Tuesday it will relocate production of high-volume frame assemblies for the Ford Motor Co. Ranger to Bellevue, Ohio from Milwaukee, affecting 250 jobs. The relocation, expected to be completed by June 2004, will result in pretax charges of $40 million to $50 million, or 47 cents to 59 cents, over the next 12 months, Tower said in a release and save about $10 million cash annually.

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