Allied Gear ceases production.Allied Gear & Machine Co. of St. Louis Louis, titular duke of Burgundy Louis, 1682–1712, titular duke of Burgundy; grandson of King Louis XIV of France. He became heir to the throne on the death (1711) of his father, Louis the Great Dauphin. , MO, has ceased manufacturing printing presses and has laid off its employees, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a company official. The official, who asked not to be identified, says that Allied Gear's owner "has taken the decision that continued production of new presses is not, at this state of the market, a profitable business for the company, and is no longer soliciting press orders." The company still exists in name, he adds, but says that the owner has "significantly downsized the business." No employees remain on the payroll payroll a list of employees, their salary rates, tax deductions, amounts paid, payroll tax, long service leave entitlements. , he says. Allied Gear, which had been a prominent manufacturer of narrow web presses and dies, ceased production of dies and tooling about three years ago. At around the same time, the company entered into an agreement with GiDue, the Italian press manufacturer, to market its presses in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . That union recently was dissolved dis·solve v. dis·solved, dis·solv·ing, dis·solves v.tr. 1. To cause to pass into solution: dissolve salt in water. 2. . The company has been in negotiations with former employees who might continue the parts and service operations. "My expectation is that in a fairly short period of time they may well decide that producing complete presses is more profitable for them," says the official. |
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