Wabash considers closing two plants, paring used trailer inventory

WASHINGTON, D.C. (August 15, 2001) — Wabash National Corp. may close two plants as part of its plan to streamline operations, according to its quarterly report filed with the Securities and Exchange Commission.

The company said it warned employees at its Fort Madison, Iowa, and Huntsville, Tenn., plants of the potential closure of the factories, which combined make up less than 20% of the company’s production. The company did not say whether the shut-downs would be permanent.

In addition, Wabash said it is evaluating how to reduce used trailers in inventory. As of June 30, the companyÕs used trailer inventory was valued at $94.8 million US.

Wabash, based in Lafayette, Ind., builds trailers under the Wabash and Fruehauf brands. Its North American Trailer Centers subsidiary sells new and used trailers and aftermarket parts, including its Fruehauf and Pro-Par brand products, in the United States and Canada. Last fall, it acquired Breadner Group, Canada’s largest trailer distributors.