Auburn, Sparta to close metalcasting facilities.In conjunction with its emergence from Chapter 11 bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most , Auburn Auburn (ô`bərn). 1 City (1990 pop. 33,830), Lee co., E Ala.; inc. 1839. The city's economy centers around Auburn Univ.; there is some manufacturing. 2 City (1990 pop. 24,309), seat of Androscoggin co. Foundry A semiconductor manufacturer that makes chips for third parties. It may be a large chip maker that sells its excess manufacturing capacity or one that makes chips exclusively for other companies. , Auburn, Ind., announced that it plans to discontinue dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: operations at its Plant 1 facility by December. As a result of this closure, the company expects the elimination of 210 positions--180 hourly employees and 30 salaried staff members. Iron production from Plant 1, which was built in 1951, will shift to the company's Plant 2 building, a modern facility completed in 1995. Auburn's customer base is expected to remain the same. "While the company regrets the need to make these changes, it is fortunate to have excellent employees and an outstanding foundry facility upon which to build its future," said Tom Woehlke. president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Another facility that will close by year's end is the Sparta, Mich.-based Sparta Foundry (Kurdziel Industries). The automotive metalcasting facility will cease production Nov. 23 due to the low prices impacted by products from overseas. More than 50 employees will lose their positions as a result of the closure. |
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