Yokogawa plans to close 15 plants to be competitive

Yokogawa Electric Corp. plans to close 15 domestic plants and integrate domestic production into four plants under a restructuring program aimed at making the company more competitive internationally, the firm said Saturday.

It is unprecedented for a major manufacturer to shut as many domestic plants at once.

The 15 plants will be closed by the end of March 2004, with some 1,000 staff moved to the remaining domestic plants.

The world’s largest maker of industrial-use measuring instruments will intensify production at the four domestic plants as well as at four plants in mainland Asia.