Trailer sales slump prompts Manac layoffs

MONTREAL (Nov. 13, 2000) — Canam Manac Group said the backlog in its semitrailer-making business was cut nearly in half during its third quarter, prompting layoffs at plants in Saint-Georges, Que., and Orangeville, Ont.

Canam, Canada’s largest manufacturer of semi-trailers, said back-orders for trailers was 1293 units at the end of the quarter, down from 2979 a year earlier. The company did not say how deeply it cut its workforce.

Strong sales of steel products helped net income rise to $17.1 million, or 50 cents a share, in the latest third quarter, compared with a net profit of $15.4 million, or 43 cents a share, in the year-earlier period. Sales were $300.1 million versus $288 million.

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