Park-Ohio Holdings Corp. (NASDAQ: PKOH), Cleveland, OH, reported first-quarter sales of $328 million, a decrease of 12.5 percent year-over-year. Profit decreased 75 percent to $2.7 million.
“The unexpected reduction in volume in our aluminum casting unit caused by a customer's decision to end production on two car platforms and the impact of the low build rates in heavy-duty truck and rail in January and February impacted results,” said CEO Edward F. Crawford.
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