wiredInUSA April 2016

INDEX

By Bernard S. Jansen (Own work) [GFDL, CC-BY-SA-3.0 or CC BY 2.5], via Wikimedia Commons

Wire rope closure

WireCo World Group is to sell its steel wire rope manufacturing plant in St Joseph to Hillyard Industries, for the eventual development of a new manufacturing and national distribution center. “When conversations with WireCo began, it was immediately apparent that we shared the same vision and goal of making decisions that benefit downtown St Joseph,” said Hillyard president Jim Carolus. “We want to provide opportunities for growth and reinvestment among our employees and in the downtown area where Hillyard has thrived for several generations. We are excited about this project and the vitality it will add to our local community.” WireCo CEO Chris Ayers said the sale of the building will cause 49 employees to lose their jobs. The company will provide transition assistance. “It is difficult to close any manufacturing plant because of the impact to good people, their families and the

community,” Ayers said in a release. “The harsh reality is the global oil, gas, and crane rope markets are facing economic challenges, and every company in these industries is being affected. This sale and consolidation of our production facilities enable us to continue to service our customers at the highest quality level despite an increasingly challenging market for WireCo and our customers.” WireCo will continue to operate its fabricated products facility in St Joseph at its existing site.

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wiredInUSA - April 2016