Latest news with #DorelIndustries
CTV News
5 days ago
- Business
- CTV News
Cornwall furniture manufacturing plant set to close
A furniture manufacturing plant in Cornwall, Ont. is set to close after 55 years in business. Dorel Industries announced late last month it will eliminate its domestic manufacturing operations at Ridgewood Industries based in Cornwall. The company announced the closure as part of a 'strategic shift in its operations with a significant reduction in the size of its Home segment.' Mayor Justin Towndale says the closure, set for September 19, will affect approximately 300 people. 'The announcement that Ridgewood industries is closing after 55 years is terrible news for our community, and is not the type of news that anyone wants to hear,' Towndale said in a statement. 'These community members are at the forefront of my thoughts, as they face uncertainty amidst the loss of their employment.' Towndale says the co-founder of Ridgewood, Alan Schwartz, 'cited outside economic factors as the decision to close the facility.' 'These include current challenges with the U.S. market and competition from overseas outsourcing.' Ridgewood Industries opened in 1969.
CBC
5 days ago
- Business
- CBC
Closure of Cornwall furniture manufacturer to cost 300 jobs
The impending closure of a Cornwall, Ont., furniture manufacturer will leave 300 people without jobs, as the city's mayor warns the layoffs are an early sign of the turmoil that threatened U.S. tariffs could inflict on the local economy. After 55 years in business, Ridgewood Industries will close in September, parent company Dorel Industries announced last month. "The elimination of the domestic manufacturing operations based in Cornwall," was part of a "strategic shift," the company said in a statement. The decision was not taken lightly, said CEO Martin Schwartz, who explained "it is the only feasible course of action to return to profitability." Cornwall Mayor Justin Towndale said Schwartz had indicated that "the U.S. economy as a whole is responsible for that closure." Closure 'heartbreaking' The closure of such a major employer had prompted fear in Cornwall, Towndale told CBC's All In A Day on Wednesday. "Three-hundred people is a significant number of people in our community," he said. "You're talking about generations of people that have worked there." The closure was "heartbreaking" for the local community, according to Angela Bero, general manager of the Cornwall and Area Chamber of Commerce. "I hope we don't see this continuing with multiple closures within organizations and businesses," she said. But with the threat of tariffs affecting business confidence, "it's just hard times right now," she said. As a border city, Cornwall is particularly vulnerable to any changes in trade with the United States, with one in three local businesses engaged in cross-border trade and commerce, Towndale said. Looming threat of tariffs U.S. President Donald Trump first announced sweeping 25 per cent tariffs on Canadian goods in March, before walking back the announcement to exclude goods that comply with the Canada-United States-Mexico Agreement (CUSMA). As the countries negotiate a new trade agreement, Trump last week threatened to impose a 35 per cent tariff on all Canadian goods on Aug. 1. So far, Cornwall has not been greatly affected by the threatened tariffs, Towndale said, but this may be changing. "We have seen an impact within the last couple of weeks," he said, citing the closure of Ridgewood Industries as an example. The city is now trying to protect itself from the trade war by rewriting procurement policies to favour Canadian and local companies, Towndale said. Meanwhile, Employment Ontario has activated its rapid re-employment and training service to help Ridgewood workers retrain and find new jobs. "Together, we are making sure Cornwall workers have the tools and resources they need to find new employment," said Nolan Quinn, the MPP for Stormont–Dundas–South Glengarry, in an emailed statement.
CTV News
30-06-2025
- Automotive
- CTV News
Dorel Industries to close domestic manufacturing operations as it cuts home segment
Child car seats sit in a warehouse after being manufactured at the Dorel Juvenile Group factory in Columbus, Indiana, U.S. on Tuesday, March 25, 2014. Photographer: Luke Sharrett MONTREAL — Dorel Industries Inc. is restructuring its operations to cut the size of its home segment and eliminating its domestic manufacturing operations based in Cornwall, Ont. The company says the decision to cease all Dorel Home manufacturing operations in North America was made after an extensive review. It says the move will result in substantial savings based on a smaller footprint and workforce and eliminate the losses from the domestic operation. Dorel's home business produces a wide range of home furnishings, while its juvenile business is focused on products such as child car seats, strollers and other baby gear. The wind-down of the home operations is expected to be complete by the end of the third quarter. Dorel says the benefits of these changes are expected to improve earnings by the fourth quarter of this year. This report by The Canadian Press was first published June 30, 2025.
Globe and Mail
22-05-2025
- Business
- Globe and Mail
REPEAT: Dorel Industries Inc. Announces Virtual Annual Meeting of Shareholders
MONTREAL, May 22, 2025 (GLOBE NEWSWIRE) -- Dorel Industries Inc. (TSX: DII.B, DII.A) Shareholders are invited to participate by live audio webcast at Shareholders will have the ability to interact with Dorel Industries Inc. Senior Management by submitting questions to ir@ To be sure your questions are addressed during the Q&A portion of the annual meeting, please submit them no later than 5 p.m. on Friday, May 23, 2025. Dorel Industries Inc. (TSX: DII.B, DII.A) is a global organization, operating two distinct businesses in juvenile products and home products. Dorel's strength lies in the diversity, innovation and quality of its products as well as the superiority of its brands. Dorel Juvenile's powerfully branded products include global brands Maxi-Cosi, Safety 1st and Tiny Love, complemented by regional brands such as BebeConfort, Cosco, Mother's Choice and Infanti. Dorel Home, with its comprehensive e-commerce platform, markets a wide assortment of domestically produced and imported furniture. Dorel has annual sales of US$1.4 billion and employs approximately 3,600 people in facilities located in twenty-two countries worldwide.
