| 12:07 PM EST

Schaeffler Will Close 2 U.K. Plant Over Brexit Worries

Schaeffler Group says it will close two factories in the U.K. and move their production to facilities in China, Germany, South Korea and the U.S. over the next two years.
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Schaeffler Group says it will close factories in Plymouth and Llanelli, England, and move their production to facilities in China, Germany, South Korea and the U.S. over the next two years.

The moves are part of a global review of operations and reflect the impact on European automotive supply chains of the U.K.’s exit from the European Union next spring. Schaeffler also operates a factory in Sheffield and two logistics centers in England.

The Llanelli factory makes tappets and bearings for carmakers and industrial customers. The Plymouth plant produces specialized bearings for the aerospace, defense and industrial customers.

Schaeffler employs about 1,000 people in the U.K. The company says its Plymouth and Llanelli plants export 85% of their goods, almost all to customers in Europe. A “hard” Brexit would impose tariffs on products exported from the U.K.

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