Seco Tools, which is based in Sweden, recently announced that it will relocate its Custom Tooling unit to its North American headquarters in Troy, Mich. 

The company said the relocation will facilitate developing a center of excellence in engineered customer solutions.

 At the same time, Seco will close its Lenoir City, Tenn., standard tooling facility due to “changes in demand and production capacity,” the company said.  

"The decision to close the Lenoir City production operation was a difficult one for the company because of the extremely positive experience we've had in the area and the talented and dedicated team of people we work with there,” said Kurt Nordlund, president of Seco Tools, Inc.

"The global market has not developed according to plans made seven years ago, which has resulted in excess capacity,” Nordlund added. “Because of this, we need to modify our production model to accommodate actual market requirements.”