VERSAILLES, Ky. (LEX 18) — Yokohama Industries Americas Inc. announced in a press release on Wednesday plans to stop all production operations at its Versailles manufacturing plant by mid-2025.
The company detailed that the decision will result in a "workforce reduction" of around 250 employees. Further, YIA products manufactured at the Versailles plant will be moved to other production sites within the company's existing North America network.
For over 30 years, officials noted that YIA has been producing Automotive Hose Assemblies at the site in Versailles.
"Recent reduced demand amidst increased costs of goods sold has forced YIA to further consolidate operations at other North American facilities," the release read. "Doing so will enable YIA to maintain competitive pricing while continuing to support the automotive Industry in North America."
YIA added that the company will work with its customers to "seamlessly transition" the supply chain to other company sites, along with provide severance to full-time employees at the Versailles plant.
