In order to survive, small but healthy companies are shutting some of their plant manufacturing doors.
Detroit Tool Metal Products (DTMP) announced it is closing its Fort Madison, Iowa plant and consolidating its operations to its Lebanon, Missouri facility.
This company hopes the closing, scheduled for December, will cut costs.
According to public relations director Art Siacoo, the process of closing may take until January of next year.
The company has not yet sorted out who of the 130 employees will be let go and who will be asked to relocate to Lebanon. In either case, moving equipment will be done in phases, so staff assigned to that task will not be let go immediately.
DTMP is perhaps best known for its universal muffler, developed in the 1960s.
The company received a $1.4 million contract in March which expanded its operations into the business of defense. The contracted work was to have been split between the Lebanon and Fort Madison plants.
Detroit Tool Metal Products (DTMP) announced it is closing its Fort Madison, Iowa plant and consolidating its operations to its Lebanon, Missouri facility.
This company hopes the closing, scheduled for December, will cut costs.
According to public relations director Art Siacoo, the process of closing may take until January of next year.
The company has not yet sorted out who of the 130 employees will be let go and who will be asked to relocate to Lebanon. In either case, moving equipment will be done in phases, so staff assigned to that task will not be let go immediately.
DTMP is perhaps best known for its universal muffler, developed in the 1960s.
The company received a $1.4 million contract in March which expanded its operations into the business of defense. The contracted work was to have been split between the Lebanon and Fort Madison plants.
