Losses Mount At Towing Equipment Maker Miller
CHATTANOOGA, Tenn. (AP) — Towing equipment maker Miller Industries is reporting mounting losses from a new product line in Greeneville.
The Chattanooga Times Free Press reports (http://bit.ly/1eCWQfE ) that the company has also made a leadership change in naming William Miller II as the co-chief executive officer alongside the existing CEO, Jeff Badgley.
Miller said it expects to lose $1 million in the fourth quarter from its Delavan brand of large trailers. The Chattanooga-based company spent $1.8 million to add the Delavan line at its Greenville plant in August, adding 58 jobs.
Now, Miller says it is cutting back on Delavan production, which is a joint venture with the Lohr Group, a French transportation company.