(To read more on the industrial market, click here.)

(Natalie Keith is a contributing writer to GlobeSt.com.)

NOVI, MI-Tower Automotive Inc. has reached a tentative agreement with union workers at a Milwaukee plant that would allow the company to move forward with plans to close the facility in March. The company also plans to begin bargaining with unions representing workers at its Greenville manufacturing facility in an effort to move forward with plans to close that facility. The closures are part of the company's restructuring efforts, which are being undertaken to become more competitive in the market.

The Greenville operation is located in a 156,000-sf building that sits on 10 acres, while the Milwaukee operation is located in a portion of a 149-acre campus. Tower once occupied the entire Wisconsin campus, closed most of its operations and is selling it to the City of Milwaukee for redevelopment. No decisions have been concerning the remainder of that property or the Greenville operation, according to a company spokesperson.Tower reached an agreement with seven unions representing workers in Milwaukee that modifies healthcare benefits and addresses a wide range of outstanding issues related to the plant closure. The agreement must be ratified by union members and approved by the US Bankruptcy Court. Tower filed to reorganize under Chapter 11 of the US Bankruptcy Code a year ago.

In a related development, Tower's board of directors gave company officials a green light to begin bargaining with unions that represent workers at its Greenville plant. The facility, which produces metal stampings and assemblies for the North American automotive industry, employs approximately 200 hourly employees and 30 salaried employees.

Tower is a global designer and producer of vehicle structural components and assemblies used by automobile equipment manufacturers. Last fall, the company moved its headquarters from Grand Rapids to Novi and closed a technical center in Rochester Hills as part of restructuring efforts.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.