Peloton won’t build Ohio factory in Wood County amid company turmoil

Peloton announced Tuesday it is canceling its plans to build its first U.S. factory in Wood County. The company broke ground in August 2021 on what was to be a $400 million plant in Northwest Ohio.

LUCKEY — In a blow to the state’s economy, Peloton announced Tuesday it is dropping its plan to build its first U.S. factory in northwest Ohio.

Peloton Interactive announced it is “winding down the development of its Peloton Output Park (POP) manufacturing plan,” as part of a series of maneuvers designed to prop up the company’s finances.

John Foley, the cofounder of Peloton, is stepping down as chief executive and become executive chair at Peloton Interactive Inc., USA Today reported. Barry McCarthy, who served as CFO at Spotify as well as at Netflix, will take over as CEO effective Wednesday.

Peloton officials estimated that canceling its plans for the Wood County plant will result in $60 million in restructuring capital expenditures, which is included in the company’s revised full year guidance.






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