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April 23, 2014

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Assured Castings blames lack of profitability

Last updated: 5:05 PM, 08/03/2009
 


Source: The Rogersville Review

By Jim Zachary
Managing Editor | (jzachary@xtn.net)

ROGERSVILLE-A company official said this week the closing of Assured Castings in the Rogersville Industrial Park was simply the result of a lack of profitability.

Plant Manager Mike Simpson released a statement Wednesday, saying, "The closing will affect approximately 180 production, administrative and management employees.

Over the past few years, the Company made substantial investment in both equipment and human resources, but Assured Castings has not achieved a profitable operating level."

He added, "The closing is in no way related to the abilities or productivity of employees at the plant. Businesses in the area with employment opportunities for workers displaced by the closing are encouraged to contact the plant with details of their available openings."

The shutdown is expected to take place by September 29.

Company officials added, "In accordance with the federal Worker's Adjustment and Retraining Act (WARN), all employees at the facility will receive at least 60 days of pay and benefits from the time they are formally notified of their projected separation dates."

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