C&A reports a larger loss, cuts 880 jobs

[Ruby Romaine]

Car production cuts, materials costs cited

November 10, 2004

BY SARAH A. WEBSTER
FREE PRESS BUSINESS WRITER

Third-quarter losses widened significantly for Troy auto supplier Collins & Aikman Corp., which said Tuesday it cut 880 of 24,000 jobs during the quarter but expects to finish restructuring by the end of the year.

The maker of carpets, plastics and other auto parts released its results for the July-September period and also revised its outlook for the rest of the year. C&A said it expects its 2004 losses to be two to three times worse than it previously forecast, largely because of automakers' production cuts by major automakers and rising materials costs.

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