Trailer manufacturer Wabash National Corp. is discontinuing international sales efforts and reorganizing its domestic business in an effort to reduce its debt load and adapt to a slowing trucking economy.
Lafayette, Ind.-based Wabash said it will no longer build products for export outside the North American market. It is also abandoning international financing activities and will consolidate several domestic operations.
According to Wabash, the domestic businesses in question include its hardwood flooring facilities and certain under-performing retail and distribution locations. The company said it expects these actions will result in fourth quarter 2000 pre-tax charges of approximately $47 million.
“The restructuring initiative responds to the changes in the domestic and international markets we serve and the continued strength of the dollar in our international export markets, especially against the Euro,” stated Wabash president and CEO Jerry Ehrlich.