Lehman Trikes to close the last of its Canadian operations
August 22, 2008
Filed under Features
Lehman Trikes will close its Westlock, Alberta, Canada fiberglass facility because of a 25 percent increase in fuel and transportation costs. The expenditure makes it no longer financially viable to continue operations at the Alberta facility, according to a Lehman Trikes press release.
“Keeping this facility operational is no longer economically feasible,” Les Brown, chairman of the board of directors, said. “Fuel and transportation costs keep increasing to the point that we can no longer endorse further activity in Westlock. We wish to extend our sincerest appreciation to all employees for their loyalty and their many contributions made to Lehman’s success over the years. We wish them all the best in the future.”
Although the decision was difficult, Dan Patterson, president and CEO of Lehman Trikes, says it will benefit the company.
“While we have experienced 26 percent revenue growth over last year, our profitability is down,” he said in the release. “This action is expected to increase our profitability for the benefit of all shareholders. Our Westlock employees have been dedicated to Lehman Trikes’ success over the years, and they should take pride in their contributions to our success.”
Lehman will offer all employees working in the Westlock fiberglass facility severance benefits.