Toray Composite Materials America, Inc. (CMA) has announced it has realigned US operations and reduced headcount to better position for an extended downturn in its commercial business streams, the company said.
CMA will immediately suspend operations in its Spartanburg, SC plant and significantly reduce capacity in its Tacoma, WA prepreg facility. These actions will result in a reduction of roughly 25% of the workforce across CMAs facilities in the United States.
Due to COVID-19 and the corresponding collapse of global air travel, demand for passenger aircraft has been significantly reduced. Furthermore, global macro-economic conditions are reducing the demand for industrial products.
These urgent actions will enable CMA to reduce its costs to partially mitigate the immediate downturn in business. CMA will enhance its cooperation with business units in the United States to better meet customer expectations and adapt to a changing market.