TOKYO -- Japanese supplier NHK Spring Co. plans to close its Ohio stabilizer factory in March to rein in costs amid tumbling orders from North American automakers.
The closure affects the Toledo plant of NHK subsidiary New Mather Metals Inc. Some of that factorys equipment will be transferred to the units other plant in Franklin, Ky.
The Toledo factory is one of five NHK plants in the United States and employs 93 people. Japans Nikkei business newspaper said some workers would be offered jobs in Franklin.
NHK is the latest Japanese supplier hit by the slump in North American auto production. Other parts makers that have cut ouput, closed plants or shed jobs include Denso Corp., Aisin Seiki Co. and Calsonic Kansei Corp.
New Mather Metals plant in Kentucky supplies stabilizer bars to Nissan Motor Co., Honda Motor Co., Toyota Motor Corp. and General Motors Co.NHK Spring makes suspension and seating products and is based in Yokohama. The company ranks No. 45 on the Automotive News list of the top 100 global suppliers with estimated worldwide sales to automakers of $3.88 billion in 2008.