Michigan-based Cooper-Standard Holdings Inc. (NYSE: CPS) has announced plans to close its manufacturing facility in Plymouth. In a notice to the state, the company says the closure will result in the layoffs of more than 160 employees.
Cooper-Standard did not give a specific reason for the closure. The layoffs are expected to occur between June 21 and June 30.
The company says the layoffs will be permanent, however representatives from Nishiwaka Cooper LLC, a joint venture between Japan-based Nishiwaka Rubber Co. and Cooper-Standard also known as Nisco, will soon come to the plant to discuss potential employment opportunities with Nisco.