Brown-Forman Corp.’s Lenox unit, a maker of china and crystal, said it
will cut 434 jobs while closing a silver factory in Rhode Island
and a North Carolina plant.
Lenox said it will shut its Gorham Silver factory in
Smithfield, in mid-December and move its equipment
and production to Pomona, N.J. About 62 jobs will be
eliminated and the factory and property will be put up for sale
after the plant is closed, the company said in a statement.
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The company also will close its Lenox China giftware factory
in Oxford, N.C., in April 2003 and move production to a
plant in Kinston, N.C., trimming about 372 jobs. The
property and equipment will be sold after closing. About 30 jobs
will be added in Kinston, which will be expanding its facility.
Brown-Forman, based in Louisville, Ky., will have pretax
costs of about $11 million for the closing in its fourth quarter
ending April 30. The Lenox business is based in Lawrenceville, New
Jersey.
The shares of Brown-Forman fell $1.22 to $76.94. They have
risen 28 percent in the past 12 months.
Bloomberg News
