Besides the closure of the company's Maryland facility, production is slated to be cut back in facilities in Illinois, North Carolina and Tennessee, according to company officials. Much of that lost production could resurface in Asia--in particular, Fedders plans to boost production of air conditioning units in China, and will start turning out dehumidifiers, rotary compressors and other related products elsewhere in Asia.
Fedders will take a fiscal fourth quarter (ending August 31) charge of between $18 million and $22 million. The charge is tied specifically to job cuts, production shut-downs and the write-off of inventories.
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