Sypris Solutions to sell or close West Broadway plant - WDRB 41 Louisville News

Sypris Solutions to sell or close West Broadway plant

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Sypris Solutions plans to sell or close its factory at 2820 W. Broadway. Sypris Solutions plans to sell or close its factory at 2820 W. Broadway.

LOUISVILLE, Ky. (WDRB) --  Louisville-based Sypris Solutions plans to sell or close its West Louisville plant that makes commercial vehicle equipment, a move that would affect about 150 workers.

Sypris will “exit or dispose of” the factory at 2820 W. Broadway in 2017, according to a filing Tuesday with the U.S. Securities and Exchange Commission.

The plant primarily makes heavy axles for commercial vehicles like 18-wheelers and off-highway trucks, said John McGeeney, the company’s general counsel.

“This is really about losing customers,” McGeeney said in an interview Tuesday.

A strong dollar has helped move the production of big trucks from the United States to countries like India, China and Brazil for years, thus affecting suppliers like Sypris, McGeeney said.

“This kind of business has been moving overseas -- in our case more to India than anywhere else,” McGeeney said.

Sypris is moving some of the Louisville plant’s work to its plant in Mexico at the request of a Mexican customer, McGeeney said. But that’s not the reason for the Broadway plant’s troubles, he said.

McGeeney said about 100 production workers at the Broadway plant are represented by three unions. The plant also has just under 50 salaried employees, he said.

McGeeney said the Broadway plant will continue to operate for about six months before any sale or closure.

“We are looking at this being a smooth transition,” he said.  

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