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[09 OCT 98] BUSINESS NEWS
Leamington Firm Cuts 120 Jobs

Automotive Products, the Leamington-based car components company, today announced it is cutting 120 shopfloor jobs.

The company is the latest victim of the recession biting hard into the West Midlands car industry.

AP, which supplies clutches, flywheels and brake components to car manufacturers, said that it had been forced to reduce its hourly paid workforce by 10 per cent because of a slump in UK orders. One of its main customers is Rover which recently announced a complete shutdown in December because of falling exports caused by the high value of the pound.

AP wants the jobs to go through a voluntary redundancy programme.

AP chief executive Adrian Buckmaster said today:

"As a result of the high pound, orders have fallen from vehicle manufacturers in the UK and also for the sale of spare parts overseas, particularly to countries recently hit by economic problems. We are therefore forced to reduce our capacity in line with the new lower demand.

"Elsewhere, our companies in Italy, France and the USA continue to develop strongly."
    

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CWN / Business / 09 Oct 98 / Leamington Firm Cuts 120 Jobs

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