Avon to close British hose factory

BRADFORD-ON-AVON, England (Dec. 7)—Avon Rubber P.L.C. said it will close its Trowbridge, England, hose plant and move production to more cost-effective locations in Czech Republic and Portugal. The shutdown, announced along with the company's fiscal 2001 results, will result in 285 job losses. For the year ended Sept. 29, Avon suffered a 43.5-percent drop in operating earnings to $12.5 million and a net loss after extraordinary charges as the company took measures to reduce its operating costs. Sales were unchanged at $400.5 million. The Trowbridge factory closing is part of a Europeanwide restructuring the company hopes will yield nearly $4.5 million in annual cost savings.