Kokomo Tribune reported that 79 employees of the Heraeus Electro Nite Co LLC were notified the company will cease production at the manufacturing plant by December 2009. The company opened in 1990. It produces sensors and samplers that measure, monitor and control the molten metal process.
Mr Michael G Midash president of Heraeus Electro Nite Co said that "Our employees in Peru have distinguished themselves by both their work ethic and the quality of their work. The decision is regrettable and unavoidable considering the depressed current state of the US steel industry and the prospects for industry growth in the foreseeable future."
Mr David Dawson spokesman of Heraeus Electro Nite Co said that the 90,000 square foot plant will continue to be used as a distribution center for the company’s products. He cited an unused capacity in the steel industry and an expected slow recovery in steel consuming industries as the reasons for the plant’s closing.
He added that "We will still have a small group of engineers working out of here. We are assisting workers with finding other jobs and offering them a severance package with health benefits. Production is off right now in the steel industry; more than 50%. It doesn’t look like it will be coming back really quick. It really looks like it will take a long, long time for the steel industry to recover."
He added that the company has won the Indiana Excellence Award for Manufacturing and Distribution in 2008 and was a finalist for the Indiana Chamber of Commerce's Small Business of the Year Award.
(Sourced from www.kokomotribune.com)
