Teledyne Continental Motors has shuttered its plant this week, while the engine manufacturer plans to have salaried employees work only four day weeks for the rest of the year.
According to a story in the Mobile’s Press-Register, the plant will be shut down this week. It also will close for the week between Christmas and New Year’s and the week following Jan. 1.
The story quotes President Rhett Ross as saying:
“Teledyne Continental is selling very few engines to plane makers, such as Textron Corp.’s Cessna unit and Hawker Beechcraft Corp., and fewer than expected to Cirrus Design Corp. Tight credit, a glut of used planes for sale and manufacturers’ large inventories are depressing demand for small airplanes.”