Newcor 2001 sales of rubber, plastic parts down nearly 21 percent

BLOOMFIELD HILLS, Mich. (April 8)—Newcor Inc., which filed for Chapter 11 bankruptcy protection Feb. 25, reported a net loss of $57,250 in 2001 on sales of $177,342 in its year-end filing with the Securities and Exchange Commission. That compares to a net loss of $6,582 on sales of $238,115 during 2000. Sales for the rubber and plastic segment decreased $9.6 million, or 20.9 percent, to $36.2 million last year, because of decreased sales to automotive market customers as a result of a general market decline throughout the year, Newcor said. Operating income for the segment decreased $3 million to $100,000 in 2001 from $3.1 million in 2000. The company has not yet filed its reorganization plan with the court.