LAFAYETTE, Ind. (Jan. 22, 2001) — Wabash National Corp., the world’s largest maker of trailers, announced layoffs, a halt to overseas exports, and a $29 million after-tax charge following lower-than-expected fourth-quarter results.

Wabash, which makes trailers under the Wabash and Fruehauf names, said profits from operations would be “approximately break-even.” Analysts had forecast a 13-cents-a-share gain. The company earned $11.8 million, or 49 cents a share, in the fourth quarter of 1999.

Wabash shares fell 25 cents to $10.44 US. They have declined 29% in the past year.

Chairman Jerry Ehrlich said the restructuring would include the closure of a sales office and flooring plant in Arkansas, a Chicago parts warehouse, and offices in Florida and California. About 200 jobs will be cut from the 6000-person workforce.

The charge is for severance and losses in its international businesses, CEO Donald Ehrlich said. Prices for the company’s trailers in Germany have risen as much as 40 percent in part because of the weakness of the euro, he said.

“This restructuring initiative responds to the changes in the domestic and international markets we serve and the continued strength of the dollar in our international export markets, especially against the euro,” Wabash National Chairman, President and Chief Executive Jerry Ehrlich, said in a statement.

Earlier this month, Wabash finalized its acquisition of Canada’s largest trailer distributor, Breadner Group, based in Kitchener, Ont. The company has 10 branch locations in six provinces.