Leggett & Platt, a diversified manufacturer of engineered components and products, will close its custom aluminum diecasting operation in Malvern, AR, later this year, according to local reports. Precision Industries has been in operation since 1952, and was acquired by Leggett & Platt in 1996.
The closing will displace 215 production workers, and 35 administrative and managerial employees.
Leggett & Platt's aluminum group has two other diecasting plants in Arkansas, B&C Die Cast in Jonesboro and Pace Industries in Harrison.
The company has not commented on the closing, but its v.p.-human resources, Ricke Teague, explained it to local television news: "The decision to close the Malvern operation was based on a number of factors, including the fact that it has been losing money, margins have been eroded by global competition, and there have been inefficiencies we have been unable to overcome."
Arkansas's Dislocated Workers Task Force will work with the plant management to help workers with the transition to other jobs. Also, Precision Industries is working with the United Auto Workers Local 415 to determine other steps that may help ease the effect on union members.
Arkansas Diecaster Set to Close in December
Precision Industries cites costs, global competition, inefficiencies