Champion Enterprises Inc. said late Thursday it will close its manufacturing facility in Silverton, Ore., and idle the last of four plants at its complex in LaGrange, Ind., transferring the LaGrange production to the company's facilities in Topeka, Ind. As a result, the Troy, Mich.-based maker of modular homes expects to incur pretax cash restructuring charges of $2.1 million in the first quarter ending March 29.
In addition, Champion said it is in the process of assessing the magnitude of the related pretax non-cash fixed asset impairment charges that it expects to record during the quarter, which could be as high as $7.5 million. Shares of Champion closed at $9.76.