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Tecumesh delays restructuring plan

Compressor manufacturer Tecumseh has announced the delay of their presentation of the restructuring plan.

Harold Karp, President and CEO of Tecumseh, said in a statement: “During our earnings call in March 2015, we indicated that we would be ready to present a restructuring plan to shareholders and the public by the middle of April.

“While we have made significant progress in refining the plan, we are not prepared to present the plan, as was anticipated during the earnings call.

“While we continue to focus on new product introductions and to aggressively drive improvements in our commercial and operational processes, we are also finalizing the remaining critical elements which will enable us to communicate our longer term plan.

“We appreciate your continued interest and commitment to Tecumseh and to our Board and management team, and we look forward to presenting our plan soon.”

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