CSR to close auto glass facilities

Market Watch
January 21, 2009

CSR Ltd. said Wednesday that in June it will close its automotive glass production units at Geelong and Laverton, Victoria state [Australia], and fire 115 workers because of declining car manufacturing.

The business is a small component of the Sydney-based company's Viridian glass business, with a negligible contribution to total earnings, and the closure won't affect CSR's other glass operations, it said in a statement.
The closures are expected to cost the company about A$13 million [$8,591,570], which will be treated as an one-off item in CSR's second fiscal half, the company said, according to a Jan. 20 Market Watch report.

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